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07:56
The weakening of the Korean won drives currency exchange, leading to a record decline in South Korea's foreign exchange deposits.
According to Golden Ten Data on April 22, Korea's foreign exchange deposits saw a record drop in March, as the weakening of the won prompted companies to convert their foreign currency holdings into the local currency. Data released by the Bank of Korea on Wednesday showed that as of the end of March, residents' foreign currency deposits (including local companies, foreigners who have resided in Korea for more than six months, and overseas companies operating in Korea) decreased by 15.4 billion USD from the previous month, falling to 102.2 billion USD. The decline was mainly concentrated in corporate accounts. The Bank of Korea stated that, as the won exchange rate dropped from about 1,440 won per USD in late February to about 1,530 won per USD at the end of March, companies increased the conversion of foreign currencies into won, and overseas investments and tax settlements also led to capital outflows. It is reported that the largest decline was in USD deposits, which fell by 10.4 billion USD, while deposits in both EUR and JPY also decreased.
07:52
Major Bank Ratings | Citi: More Optimistic About Microsoft's Outlook for Q3 Earnings, Reiterates "Buy" Rating
GLONGHUI April 22|Citi published a research report stating it is more optimistic about Microsoft's third quarter performance outlook, mainly due to positive news from dealer surveys, AI summits, the Fabric conference and intra-quarter non-deal roadshows. Citi pointed out that while current investor expectations and market sentiment are relatively low, and Azure and Office 365 face short-term constraints on growth, fundamentals are believed to be improving and should accelerate throughout fiscal year 2027. Microsoft remains Citi's top pick among mega-cap stocks, with the "Buy" rating reiterated, but the target price was lowered from $635 to $600.
07:51
The German Defense Minister revealed that this week, CDU leader Merz and French President Macron are expected to make a key decision on the Franco-German jointly developed Future Combat Air System (FCAS) fighter jet project.
This collaborative plan, hailed as a milestone in the European defense industry, is at a historic crossroads deciding its technological direction and allocation of funds. The talks between the two national leaders will directly impact the development process of this sixth-generation fighter jet. As one of the largest defense cooperation projects in Europe, FCAS not only concerns the military autonomy of France and Germany, but will also have a profound impact on the entire European aerospace industry chain. The project aims to build a next-generation air combat system integrating unmanned wingmen, space warfare, and cyber warfare capabilities. Analysts have pointed out that this high-level decision-making may involve adjustments to the division of labor between core contractors Dassault Aviation and Airbus, as well as the coordination mechanisms among key subsystem suppliers. As the global military industry is rapidly being reshaped, the pace of FCAS project advancement will become an important measure for the effectiveness of European defense integration.
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