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Time of India
3 days ago
- Business
- Time of India
Asia's factory output declines in May amid weak demand from China, US tariffs
Asia's factory activity declined in May, hit by weak demand from China and the ongoing impact of US tariffs, according to private surveys released Monday, signaling a slowdown in the region's economy. Tired of too many ads? go ad free now Manufacturing operations in Japan and South Korea experienced ongoing decline during May, while concerns about US President 's automobile tariffs cast uncertainty over export prospects. Further economic concerns emerged as China's official survey revealed continued manufacturing decline in May, marking two consecutive months of contraction in the largest Asian economy. Analysts said that slow progress in trade talks with the US is keeping businesses cautious about increasing production or investment. "It's hard to expect a pick-up in Asia's manufacturing activity any time soon with countries in the region slapped with quite high 'reciprocal' tariffs," Toru Nishihama, chief emerging market economist at Dai-ichi Life Research Institute told Reuters. "With domestic demand weak, China is flooding Asia with cheap exports, which is also putting deflationary pressure on the region's economies," he added. Japanese manufacturing PMI data from au Jibun Bank indicated 49.4 for May, showing improvement from April whilst remaining in contraction territory for the eleventh consecutive month, according to Monday's private survey. The fourth-largest Asian economy recorded 47.7 in May, continuing below the 50-point threshold for four straight months, affected by weak demand and US tariffs, as reported by S&P Global. Both Japanese and South Korean economies contracted in the first quarter, impacted by Trump's tariffs and US trade policy uncertainty affecting exports and business activities, with no immediate signs of improvement visible. Tired of too many ads? go ad free now Earlier on Friday, Trump accused China of violating bilateral tariff reduction agreements, while China maintained that it had sustained trade communications with the United States. US commerce secretary Howard Lutnick added fuel to the fire, saying on Fox News that China was 'slow-rolling' the agreement. China swiftly rejected the accusations, calling them baseless and 'seriously contrary to the facts.' In a strong statement, its commerce ministry said Beijing "firmly rejects these unreasonable accusations." Trump further announced that global tariffs on steel and aluminium would be doubled from 25% to 50%, saying the move is aimed at providing stronger protection for the US steel industry. Meanwhile, Japan and the US agreed to hold another round of trade talks ahead of the G7 summit in June. However, Japan's top tariff negotiator stated that no deal would be made without concessions on all US tariffs, including those on automobiles. The private surveys further showed that Vietnam, Indonesia and Taiwan also saw factory activity contract in May.
Business Recorder
22-05-2025
- Business
- Business Recorder
Japan's May factory activity contracts for 11th month, PMI shows
TOKYO: Japan's manufacturing activity extended declines for nearly a year in May, as factories continued to take a hit from US tariffs on Japanese goods, a business survey showed on Thursday. While service-sector activity showed some resilience and stayed in expansionary territory, feeble manufacturing performance drove overall Japanese businesses back to contraction. Japan's trade envoy is set to have a third round of talks with US officials this week, but it was unclear if there would be a deal to lower the tariffs set by President Donald Trump, which threaten the auto sector and other key industries. The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) edged up to 49.0 in May from April's final reading 48.7, but stayed below the 50.0 threshold that separates growth from contraction for the 11th month. Factory output fell at a quicker pace than in April, while the decreases in new orders and new export business were slower than the previous month. Cost pressures remained high but showed signs of easing. Input costs for factories rose at the slowest rate in 14 months, while output price inflation was down to the lowest in nearly four years. Business confidence among manufacturers improved slightly in May after slipping to the weakest level in nearly five years in April. Meanwhile, service-sector managers' sentiment hit the lowest since January 2021 during the COVID-19 pandemic. China's factory activity falls sharply as Trump tariffs bite 'Uncertainty around the future trade environment and foreign demand' appear to cloud Japanese businesses' outlook and output projections, said Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence, which compiled the survey. The au Jibun Bank flash services PMI was down to 50.8 in May from 52.4 in April, with slower increases in new business, export business and employment. Given the deterioration in both manufacturing and non-manufacturing activities, the au Jibun Bank flash Japan composite PMI fell to 49.8 in May from 51.2 in April.
Business Standard
22-05-2025
- Business
- Business Standard
GIFT Nifty points to muted start
GIFT Nifty: GIFT Nifty May 2025 futures were trading 4.50 points lower in early trade, suggesting a flat-to-negative opening for the Nifty 50. Institutional Flows: Foreign portfolio investors (FPIs) bought shares worth 2,201.79 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 683.77 crore in the Indian equity market on 21 May 2025, provisional data showed. According to NSDL data, FPIs have bought shares worth Rs 16013.16 crore in the secondary market during May 2025 (so far). This follows their purchase of shares worth Rs 3243.03 crore in April 2024. Global Markets: Asian markets declined on Thursday, mirroring overnight losses on Wall Street. Investor sentiment was impacted by concerns that a proposed U.S. budget bill could significantly increase the national debt. In Japan, the manufacturing sector contracted for the eleventh consecutive month in May, according to preliminary data from the au Jibun Bank flash manufacturing Purchasing Managers Index (PMI). The index registered at 49.0 for the first three weeks of May, slightly improving from 48.7 in April but remaining below the 50-mark that separates growth from contraction. In the United States, all three major stock indices closed lower on Wednesday. The Dow Jones Industrial Average fell 1.91%, the S&P 500 dropped 1.61%, and the Nasdaq Composite declined 1.41%. The market selloff was attributed to a sharp rise in Treasury yields amid concerns that the proposed budget bill could increase fiscal pressure. The proposed legislation, which includes tax cuts and spending measures, is reportedly facing resistance from within the Republican party. Analysts estimate the bill could add between $3 trillion and $5 trillion to the current U.S. debt, which stands at $36.2 trillion. The development follows a recent credit rating downgrade by Moodys, citing concerns over the rising national debt. In corporate news, Alphabet Inc. shares rose more than 2% following the company's announcement of new AI-related products and initiatives aimed at maintaining its competitive edge in the sector. Microsoft Corporation traded slightly lower after disclosing that approximately 394,000 Windows devices worldwide had been infected by the Lumma malware. Domestic Market: The domestic equity benchmarks broke their three-day losing streak and ended with respectable gains Wednesday, thanks to strong support from pharma and auto stocks. While there were no major domestic cues driving the market, global jitters remained in play. The S&P BSE Sensex gained 410.19 points or 0.51% to 81,596.63. The Nifty 50 index rose 129.55 points or 0.52% to 24,813.45. In the previous three session, the Sensex and Nifty declined 1.63% and 1.51%, respectively.
Business Times
22-05-2025
- Business
- Business Times
Japan's May factory activity contracts for 11th month: PMI
[TOKYO] Japan's manufacturing activity extended declines for nearly a year in May, as factories continued to take a hit from US tariffs on Japanese goods, a business survey showed on Thursday. While service-sector activity showed some resilience and stayed in expansionary territory, feeble manufacturing performance drove overall Japanese businesses back to contraction. Japan's trade envoy is set to have a third round of talks with US officials this week, but it was unclear if there would be a deal to lower the tariffs set by President Donald Trump, which threaten the auto sector and other key industries. The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) edged up to 49.0 in May from April's final reading 48.7, but stayed below the 50.0 threshold that separates growth from contraction for the 11th month. Factory output fell at a quicker pace than in April, while the decreases in new orders and new export business were slower than the previous month. Cost pressures remained high but showed signs of easing. Input costs for factories rose at the slowest rate in 14 months, while output price inflation was down to the lowest in nearly four years. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Business confidence among manufacturers improved slightly in May after slipping to the weakest level in nearly five years in April. Meanwhile, service-sector managers' sentiment hit the lowest since January 2021 during the Covid-19 pandemic. 'Uncertainty around the future trade environment and foreign demand' appear to cloud Japanese businesses' outlook and output projections, said Annabel Fiddes, economics associate director at S&P Global Market Intelligence, which compiled the survey. The au Jibun Bank flash services PMI was down to 50.8 in May from 52.4 in April, with slower increases in new business, export business and employment. Given the deterioration in both manufacturing and non-manufacturing activities, the au Jibun Bank flash Japan composite PMI fell to 49.8 in May from 51.2 in April. REUTERS
Hindustan Times
22-05-2025
- Business
- Hindustan Times
Japan's May factory activity contracts for 11th month, PMI shows
TOKYO, - Japan's manufacturing activity extended declines for nearly a year in May, as factories continued to take a hit from U.S. tariffs on Japanese goods, a business survey showed on Thursday. While service-sector activity showed some resilience and stayed in expansionary territory, feeble manufacturing performance drove overall Japanese businesses back to contraction. Japan's trade envoy is set to have a third round of talks with U.S. officials this week, but it was unclear if there would be a deal to lower the tariffs set by President Donald Trump, which threaten the auto sector and other key industries. The au Jibun Bank flash Japan manufacturing purchasing managers' index edged up to 49.0 in May from April's final reading 48.7, but stayed below the 50.0 threshold that separates growth from contraction for the 11th month. Factory output fell at a quicker pace than in April, while the decreases in new orders and new export business were slower than the previous month. Cost pressures remained high but showed signs of easing. Input costs for factories rose at the slowest rate in 14 months, while output price inflation was down to the lowest in nearly four years. Business confidence among manufacturers improved slightly in May after slipping to the weakest level in nearly five years in April. Meanwhile, service-sector managers' sentiment hit the lowest since January 2021 during the COVID-19 pandemic. "Uncertainty around the future trade environment and foreign demand" appear to cloud Japanese businesses' outlook and output projections, said Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence, which compiled the survey. The au Jibun Bank flash services PMI was down to 50.8 in May from 52.4 in April, with slower increases in new business, export business and employment. Given the deterioration in both manufacturing and non-manufacturing activities, the au Jibun Bank flash Japan composite PMI fell to 49.8 in May from 51.2 in April.
