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South Korea July exports jump 62.8% to $98.9B on chip boom
Edgen Stock·Aug 01 2026, 04:57Share to
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[1] Korea's July export growth slows but beats expectations; chip exports exceed $40 billion, supporting trade surplus (https://wallstreetcn.com/articles/3778487 ...)[2] (3rd LD) S. Korea's monthly exports hit 2nd highest ever on strong chip shipments | Yonhap News Agency (https://en.yna.co.kr/view/AEN2026080100095332 ...)[3] South Korea July exports beat forecasts on robust demand for AI investments (https://www.msn.com/en-us/money/other/south-k ...)[4] South Korea Exports Surge 62.8% in July on AI Chip Demand (https://www.econotimes.com/South-Korea-Export ...)[5] South Korea’s Export Growth Moderates But Remains Solid on Chip Demand (https://www.wsj.com/economy/trade/south-korea ...)
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Aug 01 2026, 08:03
Chery July sales jump 23% as exports cross 200,000 milestone
Chery Group sold 276,820 vehicles in July, up 23.3 percent year-on-year, with exports crossing 200,000 units for the first time by a Chinese automaker. "International markets are strategically important to our future growth," Yin Tongyue, chairman of Chery Group, said at the FREELANDER 8 roll-off ceremony at the company's Changshu manufacturing base in Jiangsu province. July exports reached 202,533 units, up 70.1 percent year-on-year, while new energy vehicle sales hit 129,067 units, a 97.5 percent surge. In the first seven months of 2026, Chery delivered 1,634,353 vehicles, up 10.1 percent, with cumulative exports of 1,146,350 units, up 71.2 percent, and NEV sales of 604,305 units, up 42.3 percent. The record export month cements Chery's position as China's No.1 automotive exporter, with more than 19.38 million cumulative global owners. The company is accelerating international expansion through its FREELANDER joint venture with Jaguar Land Rover, which began mass production of the FREELANDER 8 at the $3.1 billion Changshu facility, with a Middle East debut planned for September in Abu Dhabi. The FREELANDER Super Factory, backed by a total investment exceeding $3.1 billion plus an additional $440 million in new energy intelligent manufacturing upgrades, features more than 1,100 robots and end-to-end digital quality traceability systems. Test vehicles have arrived in the Middle East for road testing across desert, coastal and urban environments ahead of the brand's Abu Dhabi launch. Chery's export momentum comes as Chinese automakers continue to gain share in markets including Mexico, where they face 50 percent import tariffs, and Canada, which opened a limited EV quota in early 2026. Ford Chief Executive Jim Farley told employees in July that the automaker is preparing for Chinese rivals entering the US market within five to ten years, with the first meaningful indicator expected from Canadian sales data. BYD, Chery's main domestic rival, has also been expanding overseas, passing 100,000 UK sales in three years. The July figures extend Chery's growth trajectory from April, when the group sold 251,386 vehicles with exports of 100,276 units and NEV sales of 102,102 units, up 102.4 percent year-on-year. The acceleration in export volume — nearly doubling from April to July — reflects deepening demand across emerging markets and the Middle East. The record export performance points to sustained demand for Chinese-built vehicles globally, with implications for the broader supply chain including battery makers and component suppliers. Investors will watch Chery's August sales data and the FREELANDER 8's Abu Dhabi debut in September for the next read on the group's international growth. This article is for informational purposes only and does not constitute investment advice.
Aug 01 2026, 07:18
Freddie Mac posts $3.8B Q2 profit on credit reserve release
Freddie Mac reported second-quarter net income of $3.8 billion, up 61% from a year earlier, as an $880 million credit reserve release and higher net interest income lifted results. "Freddie Mac delivered strong second quarter financial results, reflecting the strength of the business and disciplined execution against our priorities," Bill Pulte, director of the Federal Housing Finance Agency and chairman of Freddie Mac's board, said. Net revenues rose 1% to $6.0 billion, with net interest income up 13% to $6.0 billion and net interest yield at 69 basis points. Non-interest income swung to a $19 million loss from $617 million in income a year earlier, while non-interest expense fell 3% to $2.1 billion. Net worth climbed 20% to $77.8 billion, lifting the senior preferred stock liquidation preference to $146.6 billion, set to reach $150.4 billion on Sept. 30. Shares were unchanged at $28.40, leaving the stock about 25% below its 52-week high of $37.80. The Single-Family segment generated $3.3 billion of net income, up 57%, on $5.1 billion of net revenues. New business activity reached $110 billion, up from $94 billion a year earlier, driven by refinance volume that doubled to 106,000 borrowers. The segment recorded an $846 million credit benefit versus a $622 million provision a year earlier after Freddie Mac revised its house-price scenario process. The company now expects home prices to rise 1.7% over the next 12 months and 2.1% in the following 12 months, up from prior forecasts of 0.5% and 1.4%. Multifamily net income jumped 90% to $561 million as the segment shifted toward fully guaranteed securitizations, which carry higher guarantee fees. New business activity rose 58% to $18 billion, financing 133,000 rental units, with 91% of eligible units affordable to low- and moderate-income families. Credit quality showed some pressure. The single-family serious delinquency rate rose to 0.60% from 0.55% a year earlier, and multifamily delinquency climbed to 0.51%. Credit enhancements covered 61% of the single-family portfolio and 92% of multifamily. The results highlight a widening gap between accounting net worth and regulatory capital. Adjusted total capital stood at $0.5 billion against a $161 billion requirement including buffers, leaving a $101 billion shortfall excluding buffers because the $73 billion of senior preferred stock does not qualify as regulatory capital. Investors will watch whether the FHFA advances any recapitalization framework that could alter the senior preferred claim, which is scheduled to rise to $150.4 billion on Sept. 30. This article is for informational purposes only and does not constitute investment advice.
Aug 01 2026, 06:18
Tesla's $99 FSD plan on pace for $1.8 billion a year
Tesla's supervised Full Self-Driving subscriptions hit 1.48 million active users in the second quarter, up 56 percent year over year, putting the $99-a-month plan on pace for about $1.8 billion in annual revenue. "We're seeing in locations that have FSD approved, we're seeing a very high take rate of FSD," Chief Executive Elon Musk said on the earnings call, adding that customers want the software with whatever car it's paired with. The subscription base still represents a small slice of Tesla's roughly $94.8 billion in annual revenue last year, but FSD subscriptions carry significantly higher margins than the core electric-vehicle business, so the segment should account for a larger share of operating profit than revenue. Tesla's FSD fleet has also accumulated more than 12 billion cumulative miles on the road, feeding real-world data back into the software's training loop. The network effect is the long-term prize. More drivers mean more training data, which improves the software and attracts more subscribers — a flywheel that also feeds Tesla's robotaxi ambitions, where it trails Alphabet's Waymo. Tesla shares, down 28 percent this year, could rebound if the company scales its robotaxi fleet within the next year. ## The Subscription Flywheel FSD subscriptions are growing as Tesla earns regulatory approvals in more regions. Musk's comments suggest the take rate climbs wherever the software is approved, a dynamic that could sustain demand for Tesla's EVs themselves. The 12 billion cumulative miles driven by the FSD fleet create a data advantage that rivals cannot easily replicate — every mile trains the model, and a better model attracts more paying drivers. ## Robotaxi Race and the Valuation Question The subscription revenue is small relative to Tesla's vehicle sales, but its high margins make it a meaningful profit lever. The bigger opportunity sits in robotaxis, where Tesla competes with Waymo, the Alphabet unit that has led the commercial self-driving market. If Tesla can scale its robotaxi fleet within the next year and close the gap with Waymo, the stock could rebound from its 28 percent year-to-date decline. Considerable uncertainty remains. Tesla must secure additional FSD approvals in other regions, train its software to handle edge cases, and prove its robotaxi economics. In the meantime, the company's capital spending is rising rapidly, squeezing profits and margins as it doubles down on these bets. For investors, the question is whether the market has priced in the subscription growth. Tesla shares, down 28 percent this year, trade at a premium to traditional automakers, reflecting expectations for the software and robotaxi businesses. The $1.8 billion subscription run rate is a start, but it remains a fraction of the roughly $94.8 billion in annual revenue — and the path to a robotaxi fleet that justifies the valuation is still unproven. This article is for informational purposes only and does not constitute investment advice.