South Korea’s trade growth improved in November as exports rose by 9%. That followed the first drop to single digit growth in 2017 last month. Exports to China led the way witha 21% improvement, confirming our view that improving Chinese managers’ sentiment is helping regional trade. Semiconductors did best with a 65% growth – they represent 34% of South Korean exports to China – with phone network gear, home appliances and auto-parts all lower. Trade with the U.S. returned to growth, with exports that were up 11%. The trade surplus vs. the U.S. on a trailing 12 month basis reached $18....