• MTS Economic News_20170403

    3 Apr 2017 | Economic News

• Donald Trump has warned that the US will take unilateral action to eliminate the nuclear threat from North Korea unless China increases pressure on the regime in Pyongyang.

In an interview with the Financial Times, the US president said he would discuss the growing threat from Kim Jong Un's nuclear programme with Xi Jinping when he hosts the Chinese president at his Florida resort this week, in their first meeting.

"China has great influence over North Korea. And China will either decide to help us with North Korea, or they won't," Mr Trump said in the Oval Office. "If they do, that will be very good for China, and if they don't, it won't be good for anyone."
• Factories across much of Asia posted another month of solid growth in March, rounding off a strong quarter for the world's manufacturers, even as exporters fear a rise in U.S. protectionism could snuff out a global trade recovery.

In China, the official Purchasing Managers' Index (PMI) on Friday rose to 51.8 in March from the previous month's 51, thanks to a months-long construction boom which is helping to boost resources prices around the world.

Japanese factory activity expanded at a solid clip of 52.4 in March, though at a slightly cooler pace than in the previous month as growth in new export orders and output slowed.

• Japanese big manufacturers' business confidence (Tankan) improved for a second straight quarter to hit a one-and-a-half year high in March, a closely watched central bank survey showed, a sign the benefits of an export-driven economic recovery were broadening.

The headline index measuring big manufacturers' business sentiment rose to plus 12 in March from plus 10 three months ago, the tankan showed on Monday, falling short of market forecasts but marking the highest reading since December 2015.

• Oil futures moved higher Monday as upbeat sentiment about economic prospects in Asia and Europe outweighed concerns a higher U.S. rig count stoked worries about global oversupply, although a stronger dollar pressured prices.

International benchmark Brent futures rose 3 cents, or 0.1 percent, to $53.56 a barrel by 0658 GMT. The March contract closed the previous session down 13 cents at $52.83 a barrel.

U.S. West Texas Intermediate crude futures climbed 10 cents, or 0.2 percent, to $50.70 a barrel after settling 25 cents higher in the previous session.

Reference: Reuters, CNBC

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