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☆ Asia factory activity weakens, uncertainty on China clouds outlook
▼ + stars: | 2023-12-01 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

An employee works on a production line manufacturing steel structures at a factory in Huzhou, Zhejiang province, China May 17, 2020. The data shows that factories are producing less and hiring fewer people," Dan Wang, chief economist at Hang Seng Bank China, said of China's PMI readings, which have different samples. Export-reliant Japan, South Korea and Taiwan bore the brunt of sluggish global demand with their manufacturing activity remaining stagnant in November, surveys showed. Japan's final au Jibun Bank manufacturing PMI fell to 48.3 in November from 48.7 in October, shrinking at the fastest pace in nine months. Manufacturing activity also shrank in Taiwan, Vietnam and Malaysia, but expanded in Indonesia and the Philippines, the surveys showed.

Persons: Dan Wang, Toru Nishihama, Leika Kihara, Jamie Freed Organizations: REUTERS, PMI, Korea Soft, P Global, Hang Seng Bank, Dai, Research, Jibun Bank, Research Institute, Thomson Locations: Huzhou, Zhejiang province, China, Japan, S, TOKYO, Europe, United States, Hang Seng Bank China, South Korea, Taiwan, Asia, Vietnam, Malaysia, Indonesia, Philippines

☆ Asia's factory activity weakens, China's rebound offers some hope
▼ + stars: | 2023-09-01 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

While the rebound in China's factory conditions say be a sign official efforts to revive growth is starting to have some effect, manufacturing activity in most of Asia remained stagnant in August. "It's unlikely we'll see a sharp, quick rebound in China's economy. Asia has been among the few bright spots in the global economy, though persistent weakness in China cloud the outlook. It expects China's economy to expand 5.2% this year after a 3.0% increase in 2022. Factory activity also contracted in Taiwan, Malaysia and the Philippines last month, with Indonesia the outlier with a modest expansion, surveys showed.

Persons: Siyi Liu, Toru Nishihama, Leika, Shri Navaratnam Organizations: REUTERS, PMI, P Global, Dai, Research, International Monetary Fund, Jibun Bank, Thomson Locations: Dezhou, Shandong province, China, Japan, Korea, TOKYO, Asia, South Korea, Taiwan, Malaysia, Philippines, Indonesia

In Asia, while factory activity expanded marginally in China, it contracted in Japan and South Korea as Asia's economic recovery struggled to maintain momentum. REUTERS/Siyi LiuChina's Caixin/S&P Global manufacturing PMI eased to 50.5 in June from 50.9 in May, the private survey showed. The figure, combined with Friday's official survey that showed factory activity extending declines, adds to evidence the world's No. South Korea's PMI fell to 47.8 in June, extending its downturn to a record 12th consecutive month on weak demand in Asia and Europe. Factory activity also contracted in Taiwan, Vietnam and Malaysia, the PMI surveys showed.

Persons: Rory Fennessy, lockdowns, Toru Nishihama, Siyi Liu China's, Jonathan Cable, Sam Holmes, David Evans Organizations: PMI, European Central Bank, Oxford Economics, P, Dai, Research, REUTERS, P Global, Reuters, Jibun, of, International Monetary Fund, Thomson Locations: Japan, South Korea, China, TOKYO, Europe, Britain, Asia, United States, European, U.S, Dezhou, Shandong province, South, Taiwan, Vietnam, Malaysia, of Japan's

☆ Asia's factory output slumps as weak China demand weighs
▼ + stars: | 2023-07-03 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

While manufacturing activity expanded marginally in China, it contracted in powerhouses Japan and South Korea as Asia's fragile economic recovery struggled to maintain momentum. New orders from overseas customers decreased in June at the fastest rate in four months reflecting feeble demand from China, the Japan PMI survey showed. Factory activity also contracted in Taiwan, Vietnam and Malaysia, the PMI surveys showed. Asia's economy is heavily reliant on the strength of China's economy, which saw growth rebound in the first quarter but subsequently fell short of expectations. The fate of Asia's economy, including China's, will have a huge impact on the global economy with aggressive monetary tightening to curb inflation likely to weigh on U.S. and European growth.

Persons: Liu, lockdowns, Toru Nishihama, Leika Kihara, Sam Holmes Organizations: REUTERS, PMI, Dai, Research, P Global, Reuters, Jibun, Japan PMI, International Monetary Fund, Thomson Locations: Dezhou, Shandong province, China, Japan, South Korea, TOKYO, Asia, U.S, Europe, Taiwan, Vietnam, Malaysia

SummarySummary Companies ASEAN+3 finance leaders meet in Incheon, South Korea, TuesdayJapan hopes to propose strengthening currency swap linesExpansion will offer better safeguards vs pandemic, disastersINCHEON, May 2 (Reuters) - Asian finance leaders will on Tuesday look for ways to tighten safeguards to address emergency funding needs during pandemics and natural disasters, as global recession fears and volatile financial markets cloud the economic outlook. Japan, which co-chairs this year's meeting with Indonesia, hopes to discuss strengthening currency swap lines, Finance Minister Shunichi Suzuki told reporters on Friday. Japan is keen to propose a facility that enhances the use of existing currency swap lines, and allows members to tap funds in emergencies, said three sources with direct knowledge of the matter. But the swap lines have never been used, not even during the COVID-19 pandemic, leading to calls within the group for the system to be more accessible. The ASEAN+3 finance leaders, including Suzuki and Bank of Japan (BOJ) Governor Kazuo Ueda, are meeting on the sidelines of the ADB's annual meeting in Incheon in South Korea this week.

SummarySummary Companies ASEAN+3 finance leaders meet in Incheon, South Korea, TuesdayJapan hopes to propose strengthening currency swap linesExpansion will offer better safeguards vs pandemic, disastersINCHEON, May 2 (Reuters) - Asian finance leaders on Tuesday will debate ways to beef up regional safeguards to better address emergency funding needs during pandemics and natural disasters, as global recession fears and volatile financial markets cloud the economic outlook. Japan, which co-chairs this year's meeting of ASEAN+3 nations with Indonesia, hopes to discuss strengthening currency swap lines, Finance Minister Shunichi Suzuki told reporters on Friday. Japan is keen to propose a facility that enhances usage of existing currency swap lines, and allows members to tap funds in times of emergencies such as pandemics and natural disasters, said three sources with direct knowledge of the matter. But the swap lines have never been used, including during the COVID-19 pandemic, giving rise to calls from within the group to make the system more easily accessible in the event of shock events. The ASEAN+3 finance leaders, including Suzuki and Bank of Japan (BOJ) Governor Kazuo Ueda, are meeting on the sidelines of the ADB's annual meeting in Incheon in South Korea this week.

In France, the bloc's second-biggest economy, factory activity returned to growth albeit not as strongly as initially forecast. In Asia, factory activity contracted in January as the boost from China's COVID reopening had yet to take full effect. China's factory activity shrank more slowly in January after Beijing lifted tough COVID curbs late last year, a private sector survey showed. China's Caixin/S&P Global manufacturing (PMI) nudged up to 49.2 in January from 49.0 in December, staying below the 50 mark for a sixth straight month. Factory activity expanded in January in Indonesia and the Philippines but shrank in Malaysia and Taiwan, PMI surveys showed.

☆ Asia's factory activity contracts despite China's COVID reopening
▼ + stars: | 2023-02-01 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

China's factory activity shrank more slowly in January after Beijing lifted tough COVID curbs late last year, a private sector survey showed. The data was contrasted with a better-than-expected official PMI survey issued on Tuesday. South Korea's factory activity contracted for a seventh straight month in January. Factory activity expanded in January in Indonesia and the Philippines but shrank in Malaysia and Taiwan, PMI surveys showed. The International Monetary Fund on Tuesday slightly raised its 2023 global growth outlook on "surprisingly resilient" demand in the United States and Europe and the reopening of China's economy after Beijing abandoned its strict pandemic controls.

☆ Instant View: China's economy slows sharply in Q4, 2022 growth one of the worst on record
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +10 min

As a result, the Chinese economic growth rate will be below the Chinese government's target of 5% plus." This could weigh on their potential economic growth in the mid-and long-term, and we really need to be paying attention to that." MARCO SUN, CHIEF FINANCIAL MARKET ANALYST, MUFG BANK (CHINA), SHANGHAI"China's Q4 and full-year 2022 GDP growth rates came in higher than expected. Economic growth will have to depend more on productivity growth, which is driven by government policies." IRIS PANG, GREATER CHINA ECONOMIST, ING, HONG KONG"The biggest surprise is the retail sales number, which is really a big beat...

The Institute for Supply Management (ISM) said on Tuesday that its manufacturing PMI fell to 50.2 in October from 50.9 in September. China's Caixin/S&P Global manufacturing PMI stood at 49.2 in October, up from 48.1 in September. The private sector survey was in line with an official PMI released on Monday that showed China's factory activity unexpectedly fell in October. Japan's au Jibun Bank Japan Manufacturing PMI fell to 50.7 in October from September's 50.8 final, marking the weakest growth since January last year. India was an outlier with factory activity expanding at a stronger pace in October as demand remained solid.

☆ Asia's factory output weakens on global slowdown, China COVID curbs
▼ + stars: | 2022-11-01 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

The private sector survey was in line with an official PMI survey released on Monday that showed China's factory activity unexpectedly fell in October. Japan's au Jibun Bank Japan Manufacturing PMI fell to 50.7 in October from September's 50.8 final, marking the weakest growth since January last year. South Korea's factory activity shrank for a fourth month in October as orders for exports fell for an eighth month, the PMI showed. That followed data that showed South Korea's exports fell the most in 26 months with shipments to China, its largest market, extending declines. Factory activity in Indonesia expanded at a slower pace in October with the PMI standing at 51.8, down from 53.7 in September.

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