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QINGDAO TODAY
在线翻译:
szdaily -> World Economy -> 
Asia factories feel pain of trade spat
    2019-06-04  08:53    Shenzhen Daily

CLOSELY watched gauges of factory sentiment across Asia have showed ongoing weakness, led by another swoon lower in the region’s export powerhouses of Japan and South Korea.

The readings underscore the growing threat posed by the escalating U.S.-China trade war to the world economy, a risk that global investors continue to underestimate, according to Morgan Stanley.

South Korea’s Nikkei and IHS Markit manufacturing purchasing managers’ index for May fell to 48.4 from 50.2 in April, with new orders also weakening. Survey respondents complained of poor sales to China and Japan.

Official data Saturday showed South Korea’s exports fell 9.4 percent in May from a year earlier, underscoring the trade war’s hit to a bellwether economy for global trade and technology.

Japan’s purchasing managers’ index fell to 49.8 from 50.2 in April. That soft reading came even as business investment rose 6.1 percent in the first three months of 2019 from a year earlier.

Malaysia’s purchasing managers’ index dropped to 48.8 from 49.4 in May.

China’s official manufacturing purchasing managers’ index for May slid into contraction at 49.4, according to a release Friday. Its employment sub-index hit the lowest level since the aftermath of the global financial crisis.

Even Vietnam, which is enjoying the spillover effect of the trade conflict as companies shift production there in an effort to skirt tariffs, saw its purchasing managers’ index slip to 52 from 52.5. (SD-Agencies)

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