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European and US stock markets rose following a report Monday the incoming Trump administration will apply tariffs only on certain sectors, while the dollar was mostly lower against rival currencies.While Wall Street soared after Donald Trump’s election on expectations of tax cuts and deregulation, concerns about his plans to impose hefty tariffs on imports from China and other key trade partners have moved to the forefront.However, the Washington Post reported Monday that instead of a universal tariff on everything imported into the United States, which Trump had advocated as a candidate, his aides are preparing plans to apply tariffs to goods in certain critical sectors.”Stocks have made solid gains around the world today on hopes that the incoming US administration will look to take a more targeted approach on tariffs than previously feared,” said Chris Beauchamp, Chief Market Analyst at online trading platform IG.Trump quickly disputed the Washington Post report, posting on his Truth Social platform that the story “incorrectly states that my tariff policy will be pared back”.Still, stock markets moved higher.Applying a 10 or 20 percent tariff on all goods imported into the United States, or even up to 60 percent on goods from China, threated to reignite inflation and squelch demand, causing disarray in the global economy.Kathleen Brooks, research director at XTB trading platform, noted that while it is not clear exactly which critical sectors would be subject to tariffs, “it is still no wonder that investors are taking a sigh of relief”.In Europe, Paris rose more than two percent thanks to gains in luxury stocks. “A Birkin bag, a bottle of Moet and Gucci shoes are hardly critical imports, which is why the luxury sector is having a strong reaction to this news,” said Brooks.Respite from tariffs was not alone in driving sentiment.Briefing.com analyst Patrick O’Hare said there was “tax policy enthusiasm” as Trump pushes for the passage of legislation that would extend tax cuts from his first term in office.With the US dollar broadly weaker on hopes of a more limited US tariff policy, it also dropped 0.5 percent versus its Canadian counterpart as Canada’s Prime Minister Justin Trudeau announced he will step down.Trudeau’s popularity has waned in recent months, with his government narrowly surviving a series of no-confidence votes and critics calling for his resignation.He faced further pressure from Trump, who has threatened a 25-percent tariff on Canadian goods after he takes office on January 20.- South Korea crisis -In Asia, the Seoul stock market piled on 1.9 percent Monday even as South Korea remains gripped by political uncertainty following last month’s brief martial law attempt by President Yoon Suk Yeol.Anti-graft investigators have asked police to arrest the impeached and suspended leader.Tokyo retreated, with Nippon Steel taking a hit after departing US President Joe Biden blocked its proposed $14.9 billion purchase of US Steel, citing “national security” risks.The companies later announced that they had filed lawsuits in the United States challenging Biden’s decision.- Key figures around 1630 GMT -New York – Dow: UP 0.8 percent at 43,061.05 pointsNew York – S&P 500: UP 1.3 percent at 6,018.60New York – Nasdaq Composite: UP 1.9 percent at 19,993.89London – FTSE 100: UP 0.3 percent at 8,249.66 (close)  Paris – CAC 40: UP 2.2 percent at 7,445.69 (close)Frankfurt – DAX: UP 1.6 percent at 20,216.19 (close)Tokyo – Nikkei 225: DOWN 1.5 percent at 39,307.05 (close)Hong Kong – Hang Seng Index: DOWN 0.4 percent at 19,688.29 (close)Shanghai – Composite: DOWN 0.1 percent at 3,206.92 (close)Euro/dollar: UP at $1.0401 from $1.0307 on FridayPound/dollar: UP at $1.2531 from $1.2423Dollar/yen: UP at 157.36 yen from 157.33 yenEuro/pound: UP at 83.04 pence from 82.95 penceWest Texas Intermediate: UP 0.3 percent at $74.19 per barrelBrent North Sea Crude: UP 0.3 percent at $76.74 per barrelburs-rl/cw

Japan’s prime minister Monday urged Washington to dispel concerns that Joe Biden’s decision to block Nippon Steel’s takeover of US Steel could impact future investments, with the two firms filing a lawsuit challenging the move.The US president’s announcement last week cited a strategic need to protect domestic industry, a move that drew sharp criticism from both companies and Tokyo.A US government panel had failed to reach consensus on whether the $14.9 billion acquisition threatened national security, shifting the decision to Biden in the waning days of his presidency.Prime Minister Shigeru Ishiba said the veteran Democrat’s decision had sparked worries over future Japanese investments in the world’s largest economy.”It is unfortunately true that there are concerns being raised within Japan’s industrial world over future Japan-US investment,” Ishiba told reporters.”It’s something we have to take seriously.”Japan and the United States are each other’s top foreign investors.”It would be inappropriate for the Japanese government to comment on the management of an individual company that was under review as per US domestic law… but we will strongly call on the US government to take steps to dispel these concerns,” said Ishiba.”They need to be able to explain clearly why there is a national security concern, or else further discussions on the matter will not work,” he added.- ‘Illegal interference’ -Shortly after Ishiba’s comments, Nippon Steel and US Steel said they had filed a lawsuit challenging Biden’s decision, accusing his administration of “illegal interference” in the transaction.The companies said they initiated legal action in the US court of appeals in Washington to challenge the review process for the acquisition, claiming Biden had improperly used his influence and blocked the deal “for purely political reasons”.They filed their lawsuit “to remedy the ongoing illegal interference with Nippon Steel’s acquisition of US Steel”.They said the litigation intends to show “President Biden ignored the rule of law to gain favour with (workers’ unions) and support his political agenda”.Biden’s decision followed extended wrangling over competing domestic political, economic and trade demands.The outgoing president — who made the rebuilding of the US manufacturing base a major goal of his administration — had criticised the deal for months, while holding off on a move that could hurt ties with Tokyo.”This acquisition would place one of America’s largest steel producers under foreign control and create risk for our national security and our critical supply chains,” Biden said on Friday.The United Steelworkers union welcomed the announcement, describing it as “bold action to maintain a strong domestic steel industry”.Nippon Steel had touted the takeover as a lifeline for a US company that is long past its heyday, but opponents warned that the Japanese owners would slash jobs.- ‘Chilling effect’ -The decision to block the deal enjoyed rare bipartisan agreement. Republican President-elect Donald Trump and his incoming vice president had also campaigned against the sale.But the US Chamber of Commerce noted that investment from the country’s “important and reliable ally” Japan supports nearly one million American jobs.”The decision also could have a chilling effect on international investment in America,” it warned.Even without the US Steel acquisition, Nippon Steel should still be able to meet its mid-term annual production targets, said SBI Securities analyst Ryunosuke Shibata.”Nippon Steel may have other opportunities in the future to buy a US firm” or to invest in the United States to have a production base there, Shibata told AFP.”There won’t be a significant change in Nippon Steel’s growth strategy of investing in the United States and continuing to build up production capacity in India.”Keizai Doyukai, one of Japan’s three major business groups, noted that protectionist trade policies were likely to heighten under the Trump administration.”In areas related to economic security, we should strengthen cooperation with like-minded countries such as South Korea, Australia, the Philippines, and India, so as not to become completely dependent on the United States,” it said.

European and Asian stock markets started the first full week of 2025 on a mixed note, with traders’ minds turning Monday to Donald Trump’s second US presidency.Concerns about China’s stuttering economy, the outlook for US interest rates and the wars in Ukraine and the Middle East were causing a sense of uncertainty ahead of Trump’s return to the White House on January 20.Investors are steeling themselves for another four years of US friction with China, particularly after Trump warned he would impose hefty tariffs on imports from the country and other key trade partners.The US dollar dropped half-a-percent versus its Canadian counterpart as reports said Canada’s Prime Minister Justin Trudeau may resign as soon as Monday.The Canadian dollar firmed “on the back of a broadly softer US dollar but the political shenanigans keep the risks tilted toward the upside” for the greenback, noted Ipek Ozkardeskaya, senior analyst at Swissquote Bank.Trudeau’s popularity has waned in recent months, with his government narrowly surviving a series of no-confidence votes and critics calling for his resignation.He has vowed to stay on to guide the Liberals to national elections due this year but has faced further pressure from Trump, who has threatened a 25-percent tariff on Canadian goods after he takes office on January 20.Dollar support has come in recent weeks from Trump’s pledges to cut taxes and remove regulations that could reignite inflation.The prospect of prices spiking again has caused traders to pare bets on how many rate cuts the Federal Reserve will make this year.A hawkish pivot last month took the wind out of the sails of an equities rally.US jobs data at the end of this week will provide the latest snapshot of the world’s top economy and could play a key role in officials’ decision-making.- South Korea crisis -In Asia, the Seoul stock market piled on 1.9 percent Monday even as South Korea remains gripped by political uncertainty following last month’s brief martial law attempt by President Yoon Suk Yeol.Anti-graft investigators have asked police to arrest the impeached and suspended leader.Tokyo retreated, with Nippon Steel taking a hit after departing US President Joe Biden blocked its proposed $14.9 billion purchase of US Steel, citing “national security” risks.Focus is also on Beijing as it tries to kickstart China’s growth with a series of stimulus measures aimed particularly at boosting consumption and supporting the battered property sector.However, analysts pointed out that their work could be made harder by Trump.”For 2025, China’s economy will likely be stuck between the rock of higher trade tariffs and the hard place of a domestic crisis of confidence,” analysts at Moody’s Analytics wrote.- Key figures around 1045 GMT -London – FTSE 100: DOWN 0.1 percent at 8,215.12 points Paris – CAC 40: UP 0.5 percent at 7,317.18Frankfurt – DAX: UP 0.3 percent at 19,971.48Tokyo – Nikkei 225: DOWN 1.5 percent at 39,307.05 (close)Hong Kong – Hang Seng Index: DOWN 0.4 percent at 19,688.29 (close)Shanghai – Composite: DOWN 0.1 percent at 3,206.92 (close)New York – Dow: UP 0.8 percent at 42,732.13 (close)Euro/dollar: UP at $1.0342 from $1.0307 on FridayPound/dollar: UP at $1.2475 from $1.2423Dollar/yen: UP at 157.88 yen from 157.33 yenEuro/pound: DOWN at 82.90 pence from 82.95 penceWest Texas Intermediate: DOWN 0.1 percent at $74.01 per barrelBrent North Sea Crude: DOWN 0.1 percent at $76.56 per barrel

Thailand welcomed more than 35 million international tourists in 2024, surpassing the government’s target, as the country strives to revive its sluggish economy, officials said Monday.The nation’s vital tourism sector accounts for almost 20 percent of its GDP but has struggled in the wake of the Covid-19 pandemic and changing traveller habits.More than 35 million visitors visited the kingdom in 2024, around four million shy of its pre-pandemic high in 2019, according to the Ministry of Sports and Tourism.China has reclaimed its position as the top source of visitors in Thailand — after seeing a decline post-pandemic — with more than six million visitors last year, followed by Malaysia and India.The kingdom — known for its pristine beaches and iconic temples — generated more than 1.6 trillion baht ($46 billion) from tourist spending in 2024, according to tourism minister Sorawong Thienthong.The Thai government under former prime minister Srettha Thavisin introduced a number of measures to attract foreign visitors, including a free visa programme for Chinese and Indian tourists. After exceeding its target of 35 million tourists in 2024, the government has set a target of 39 million visitors in 2025.The World Bank has estimated that the country will exceed its pre-pandemic level in 2025, but tourists are spending less than they did before.

Asian markets started the first full week of 2025 on a shaky note as traders struggled to track a healthy run-up on Wall Street, with minds turning to Donald Trump’s second presidency.Concerns about China’s stuttering economy, the outlook for US interest rates and the wars in Ukraine and the Middle East were also causing a sense of uncertainty.As Trump prepares to return to the White House on January 20, investors are steeling themselves for another four years of friction with China, particularly after he warned he would impose hefty tariffs on imports from the country and other key trade partners.Those fears were being compounded by warnings that his pledges to cut taxes and remove regulations could reignite inflation, although there is hope such moves could boost profits.The prospect of prices spiking again has caused traders to pare bets on how many rate cuts the Federal Reserve will make this year, with a hawkish pivot last month taking the wind out of the sails of an equity rally.Richmond Fed boss Tom Barkin stoked worries that borrowing costs will remain elevated on Friday when he indicated his backing for a slower pace of reductions.”I think there is more upside risk than downside risk,” he said. “So I put myself in the camp of wanting to stay restricted for longer.”US jobs data at the end of this week will provide the latest snapshot of the world’s top economy and could play a key role in officials’ decision-making.All three main indexes on Wall Street ended last week on a positive note, with the S&P 500 and Nasdaq both adding more than one percent.- Political uncertainty -But Asia’s early gains ran out of gas as the day wore on.Sydney, Singapore, Manila, Taipei and Wellington edged up, while Seoul piled on 1.9 percent even as South Korea remains gripped by political uncertainty following last month’s brief martial law attempt by President Yoon Suk Yeol.Anti-graft investigators asked police on Monday to arrest the impeached and suspended leader.Tokyo retreated more than one percent, with Nippon Steel taking a hit after US President Joe Biden blocked its proposed $14.9 billion purchase of US Steel, saying that it would “create risk for our national security and our critical supply chains”.There were also losses in Hong Kong, Shanghai, Mumbai, Bangkok and Jakarta.London opened in the red but Paris and Frankfurt rose.”We view 2025 as a year with greater uncertainty given increasing concerns over Trump’s tariffs and an escalating trade war,” said Kai Wang, Asia equity market strategist at Morningstar.Focus is also on Beijing as it tries to kickstart growth with a series of stimulus measures aimed particularly at boosting consumption and supporting the battered property sector.However, analysts pointed out that their work could be made harder by Trump.”For 2025, China’s economy will likely be stuck between the rock of higher trade tariffs and the hard place of a domestic crisis of confidence,” analysts at Moody’s Analytics wrote.”China’s Houdini act to escape without much economic injury is unfolding via stimulus announcements. Big promises of new stimulus lie ahead, with details likely to come at the Two Sessions meetings in March.”- Key figures around 0810 GMT -Tokyo – Nikkei 225: DOWN 1.5 percent at 39,307.05 (close)Hong Kong – Hang Seng Index: DOWN 0.4 percent at 19,688.29 (close)Shanghai – Composite: DOWN 0.1 percent at 3,206.92 (close)London – FTSE 100: DOWN 0.2 percent at 8.210,40Euro/dollar: UP at $1.0323 from $1.0307 on FridayPound/dollar: UP at $1.2454 from $1.2425Dollar/yen: UP at 157.63 yen from 157.33 yenEuro/pound: DOWN at 82.88 pence from 82.95 penceWest Texas Intermediate: DOWN 0.2 percent at $73.81 per barrelBrent North Sea Crude: DOWN 0.2 percent at $76.35 per barrelNew York – Dow: UP 0.8 percent at 42,732.13 (close)

Asian markets started the first full week of 2025 on a positive but cautious note as traders struggled to track a healthy run-up on Wall Street, with minds turning to Donald Trump’s second presidency.Ongoing concerns about China’s stuttering economy, the outlook for US interest rates and the wars in Ukraine and the Middle East were also causing a sense of uncertainty.As Trump prepares to return to the White House on January 20, investors are steeling themselves for another four years of friction with China, particularly after he warned he would impose hefty tariffs on imports from the country and other key trade partners.Those fears were being compounded by warnings that his pledges to cut taxes and remove regulations could reignite inflation, though there is hope such moves could boost profits.The prospect of prices spiking again has caused traders to pare bets on how many rate cuts the Federal Reserve will make this year, with a hawkish pivot last month taking the wind out of the sails of an equity rally.Richmond Fed boss Tom Barkin stoked worries that borrowing costs will remain elevated on Friday when he indicated his backing for a slower pace of reductions. “I think there is more upside risk than downside risk,” he said. “So I put myself in the camp of wanting to stay restricted for longer.”US jobs data at the end of this week will provide the latest snapshot of the world’s top economy and could play a key role in officials’ decision-making.All three main indexes on Wall Street ended last week on a positive note, with the S&P 500 and Nasdaq both piling on more than one percent.Asia largely followed suit, though the gains were limited. Hong Kong, Shanghai, Sydney, Singapore, Manila, Taipei, Wellington and Jakarta all edged up, while Seoul piled on more than one percent even as South Korea remains gripped by political uncertainty following last month’s brief martial law attempt by President Yoon Suk Yeol.Tokyo retreated more than one percent, with Nippon Steel taking a hit after US President Joe Biden blocked its proposed $14.9 billion purchase of US Steel, saying it would “create risk for our national security and our critical supply chains”.”We view 2025 as a year with greater uncertainty given increasing concerns over Trump’s tariffs and an escalating trade war,” said Kai Wang, Asia equity market strategist at Morningstar.Focus is also on Beijing as it tries to kickstart growth with a series of stimulus measures aimed particularly at boosting consumption and supporting the battered property sector.However, analysts pointed out that their work could be made harder by Trump.”For 2025, China’s economy will likely be stuck between the rock of higher trade tariffs and the hard place of a domestic crisis of confidence,” analysts at Moody’s Analytics wrote.”China’s Houdini act to escape without much economic injury is unfolding via stimulus announcements. Big promises of new stimulus lie ahead, with details likely to come at the Two Sessions meetings in March.”- Key figures around 0230 GMT -Tokyo – Nikkei 225: DOWN 1.3 percent at 39,394.27 (break)Hong Kong – Hang Seng Index: UP 0.3 percent at 19,809.68 Shanghai – Composite: UP 0.1 percent at 3,215.50Euro/dollar: UP at $1.0308 from $1.0307 on FridayPound/dollar: UP at $1.2432 from $1.2425Dollar/yen: UP at 157.60 yen from 157.33 yenEuro/pound: DOWN at 82.90 pence from 82.95 penceWest Texas Intermediate: UP 0.3 percent at $74.20 per barrelBrent North Sea Crude: UP 0.2 percent at $76.69 per barrelNew York – Dow: UP 0.8 percent at 42,732.13 (close)London – FTSE 100: DOWN 0.4 percent at 8,223.98 (close)

South Korean investigators said Saturday they were close to finalising the transcript of the cockpit voice recorder from a fatal plane crash that left 179 people dead last week.The recording may hold clues to the final moments of Jeju Air flight 2216, which was carrying 181 passengers and crew from Thailand to South Korea on Sunday when it belly-landed before slamming into a concrete barrier at the end of an airport runway.South Korean and US investigators, including from the aircraft’s manufacturer Boeing, have been combing the crash site in southwestern Muan since the disaster to establish a cause.”The transcript of the cockpit voice recorder (CVR) is expected to be completed today, and the flight data recorder (FDR) is in the process of being prepared for transport to the United States” for analysis, South Korea’s land ministry said in a statement.Investigators also recovered the aircraft engine from the crash site this week, the ministry added.The exact cause of the Boeing 737-800 crash is still unknown, but investigators have pointed to a bird strike, faulty landing gear and the runway barrier as possible issues.Authorities this week carried out search and seizure operations at Muan airport where the flight crashed, a regional aviation office in the southwestern city, and Jeju Air’s office in the capital Seoul, police said.Jeju Air’s chief executive Kim E-bae has been banned from leaving the country as the investigation continues, police also said. The pilot warned of a bird strike before pulling out of a first landing, and then crashing on a second attempt when the landing gear did not emerge.Dramatic video showed the plane colliding with the concrete barrier at the end of the runway before bursting into flames.Authorities have started lifting the wreckage of the jet, and returning some of the identified victims’ bodies and personal belongings recovered from the crash site to grieving families.The plane was largely carrying South Korean holidaymakers back from year-end trips to Bangkok, except for two Thai passengers.Images from local media showed authorities handing over items including smartphones, and dried mango and coconut sourced from Thailand.

US Steel and Nippon Steel threatened legal action Friday after President Joe Biden blocked a controversial $14.9 billion deal for the Japanese company to buy its American rival.Biden cited a strategic need to protect domestic industry — but the move drew sharp criticism from both companies.The decision came after a government panel failed to reach consensus last month on whether the acquisition threatened US national security, shifting the decision to the veteran Democrat in the waning days of his presidency.The move nevertheless enjoyed rare bipartisan agreement, with Republican President-elect Donald Trump and incoming vice president JD Vance also campaigning against the sale.”This acquisition would place one of America’s largest steel producers under foreign control and create risk for our national security and our critical supply chains,” Biden said in a statement.”That is why I am taking action to block this deal.”The United Steelworkers union quickly welcomed the announcement.”We’re grateful for President Biden’s willingness to take bold action to maintain a strong domestic steel industry and for his lifelong commitment to American workers,” USW International President David McCall said.- ‘Political decision’ -Nippon Steel and US Steel expressed disappointment with the outcome, saying it “reflects a clear violation of due process and the law.””The president’s statement and order do not present any credible evidence of a national security issue, making clear that this was a political decision,” the companies said in a joint statement.They added that they would “take all appropriate action” to protect their legal rights.The companies said they engaged transparently with the Committee on Foreign Investment in the United States (CFIUS), which was reviewing the deal.But they alleged that the “process was deeply corrupted by politics,” claiming the outcome had been “predetermined.””Unfortunately, it sends a chilling message to any company based in a US allied country contemplating significant investment in the United States,” the statement said.”This is not about Japan,” White House Press Secretary Karine Jean-Pierre told reporters, saying Biden has strengthened ties with allies during his term.”We have been in touch with Japan and conveyed our thoughts directly to them,” she added.US Steel’s shares slumped 6.5 percent on Friday.Japan’s industry minister Yoji Muto said: “It is incomprehensible and regrettable that the Biden administration has made this kind of decision, citing national security concerns.””The Japanese government has no choice but to regard this seriously,” he said in a statement sent to AFP on Saturday.- ‘Level the playing field’ -Biden’s decision, less than three weeks before he leaves office, followed extended wrangling over competing domestic political, economic and trade demands.The outgoing president, who made the rebuilding of the US manufacturing base a major goal of his administration, had criticized the deal for months, while holding off on a move that could hurt ties with Tokyo.Nippon Steel touted the takeover as a lifeline for a US company that is long past its heyday, but opponents warned that the Japanese owners would slash jobs.Nippon Steel attempted to calm nerves by pledging a pause on any layoffs or closures of unionized facilities for the duration of the current union contract, which expires in 2026.But McCall warned Friday that allowing Nippon Steel to purchase US Steel would have “offered it the opportunity to further destabilize our trade system from within.”Political intrigue over the deal intensified during the November presidential election, in which Pennsylvania — the home of US Steel — was a critical swing state, giving USW union leaders added influence.The decision was left with Biden after CFIUS reached a deadlock on the transaction.Biden, echoing Trump’s own trade policies, blamed unfair foreign trade practices for the decline of US steel. He said his mixture of protectionism and subsidies had helped revive the industry.”I have taken decisive action to level the playing field for American steelworkers and steel producers by tripling tariffs on steel imports from China,” Biden said Friday.”A strong domestically owned and operated steel industry represents an essential national security priority and is critical for resilient supply chains,” he added.sms-bys-aue-hih/jts

Wall Street stocks bounced higher on Friday, but European stock markets retreated as traders booked profits from a positive start to 2025.Asia’s main equity indices closed mostly higher, with Seoul jumping nearly two percent despite deepening political uncertainty in Asia’s fourth-largest economy.There were also gains for Hong Kong, Sydney and Taipei, although Shanghai slumped for a second session running.Wall Street ended lower Thursday on the first US trading day of 2025, but bounced back to close the week.”People who wanted to take profits last year decided to wait until January to take profits so that they delay paying taxes on it by one year,” LBBW’s Karl Haeling told AFP.”The big question now is: is there too much bullishness in the market?” he added, referring to optimism that President-elect Donald Trump’s election victory would be good for the stock markets given his promises of tax cuts and deregulation.”Investors are anticipating a business friendly administration from Trump and his staff,” said Jack Ablin of Cresset Capital.Instead of enjoying a so-called Santa Claus rally of rising prices during the year-end holiday period, Wall Street limped into 2025 as investors banked their healthy 2024 gains and worried about the future.Departing President Joe Biden blocked early Friday the proposed $14.9 billion purchase of US Steel by Japan’s Nippon Steel, saying it would “create risk for our national security and our critical supply chains.”The companies disputed that the deal presented national security risks and called Biden’s rejection a political decision that failed to properly review the transaction. Nippon Steel has previously described the transaction as a lifeline to Pennsylvania’s much-diminished steel industry.US Steel’s shares slumped 6.5 percent. Nippon Steel shares had closed higher in Asian trading ahead of Biden’s announcement.The dollar dipped Friday against the euro, pound and yen.The US currency had Thursday reached multi-year highs against some of its main rivals, reflecting expectations that the world’s biggest economy would outpace others in 2025.The yuan on Friday hit the lowest dollar level since late 2023.”The very negative performance of China equities provides a better indication of the weakening sentiment around China assets at the start of 2025, and ahead of Trump’s return to the White House,” said Alvin Tan, head of Asia FX strategy at RBC Capital Markets.Investors are gearing up for Trump’s inauguration on January 20, set to be followed by the formal announcement of deep tariffs, especially on Chinese goods, that could rattle international trade.A monthslong US manufacturing slump lessened last month, according to better-than-expected survey data published Friday, as demand showed signs of improving. The Institute for Supply Management’s (ISM) manufacturing index was 49.3 percent last month, up 0.9 percentage points from November, it said in a statement. US jobless claims released Thursday fell more than expected, highlighting a robust labor market and leaving the Federal Reserve with less reason to support fresh rate cuts.Other significant economic releases ahead include data on inflation and retail sales during the holiday shopping season.- Key figures around 2125 GMT -New York – Dow: UP 0.8 percent at 42,732.13 points (close)New York – S&P 500: UP 1.3 percent at 5,942.47 (close)New York – Nasdaq Composite: UP 1.8 percent at 19,621.68 (close)London – FTSE 100: DOWN 0.4 percent at 8,223.98 (close)Paris – CAC 40: DOWN 1.5 percent at 7,282.22 (close)Frankfurt – DAX: DOWN 0.6 percent at 19,906.08 (close)Tokyo – Nikkei 225: closedHong Kong – Hang Seng Index: UP 0.7 percent at 19,760.27 (close)Shanghai – Composite: DOWN 1.6 percent at 3,211.43 (close) Euro/dollar: UP at $1.0307 from $1.0269 on ThursdayPound/dollar: UP at $1.2425 from $1.2382Dollar/yen: DOWN at 157.33 yen from 157.52 yenEuro/pound: UP at 82.95 pence from 82.92 penceWest Texas Intermediate: UP 1.1 percent at $73.96 per barrelBrent North Sea Crude: UP 0.8 percent at $76.51 per barrelburs-rl/yad/bys/acb

South Korean investigators said Friday they expected to find more human remains as they began lifting the wreckage of the Jeju Air jet that crashed on landing last weekend killing all but two of the 181 passengers and crew aboard.Flight 2216 from Bangkok to Muan broke up in a fiery ball of flames after colliding with a concrete installation at the end of the runway following a mayday call and emergency belly-landing.The exact cause of the Boeing 737-800 crash is still unknown, but investigators have pointed to a bird strike, faulty landing gear, and the barrier at the end of the runway as possible issues.Using large yellow cranes, investigators began lifting sections of the plane’s scorched fuselage Friday, including what appeared to be an engine and the tail section.”Today, we will lift the tail section of the plane,” said Na Won-ho, head of investigations for the South Jeolla provincial police.”We expect there may be remains found in that section,” he told a press conference at Muan International Airport, where the crash happened.”For all that to be complete and to have the results, we must wait until tomorrow.”Because of the violent destruction of the aircraft, officials said some of the bodies suffered extreme damage, and it was taking investigators time to piece them together while also preserving crash site evidence.All 179 victims have been identified, however, and some bodies have been released to families for funerals to begin. Police have vowed to quickly determine the cause and responsibility for the disaster, but the transport ministry said it could take six months to three years.- BTS support -Police on Thursday conducted a series of raids on the offices of Jeju Air and the Muan airport operator as they stepped up their probe.Police were securing evidence on the airport’s localizer — a concrete wall housing an antenna array at the end of the runway — as well as communications between the control tower and cockpit before the crash, Yonhap reported.Officials are also inspecting all Boeing 737-800 aircraft operated by South Korean carriers, focusing on the landing gear.The investigation is headed by South Korean air safety officials, with the assistance of the US Federal Aviation Administration, which frequently aids with probes into global plane crashes.China’s Civil Aviation Administration, meanwhile, announced Friday it was also taking measures in response to the Jeju Air crash.It “comprehensively investigated runways for safety hazards” and “strengthened the… effectiveness of bird strike risk prevention”, state broadcaster CCTV reported, citing the administration’s safety director Shu Mingjiang.In Muan, relatives of the victims visited the crash site to pay their respects and collect the belongings of their loved ones.The disaster has spurred an outpouring of national support in South Korea, with a period of mourning lasting until Saturday and donations flooding in for victims’ families.J-Hope, a member of K-pop megagroup BTS, sent 100 million won ($68,000) to the families as a “small measure of support”, according to the local Korea Herald newspaper.In other acts of kindness, some Koreans had remotely pre-paid for coffee at the airport’s cafe so the victims’ families could drink without paying, while star chefs from Netflix hit “Culinary Class Wars” prepared meals.