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Asian factories recover as pandemic drag eases

01.07.2020 11:01:22
137597

Asia’s manufacturing pain stopped pressing in June. This followed after China’s factory sector recovered, boosting optimism that the region has survived the worst of the novel coronavirus crisis.

China’s Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) was monitored at 51.2 in June, placing higher than May’s record of 50.7. More so, Vietnam and Malaysia’s PMIs also placed above the 50-mark separating growth from contraction. This revealed encouraging signs for policymakers struggling to salvage the virus-beaten economy.

Export-reliant economies of Japan and South Korea were dragged by the pandemic but their PMIs managed to place at 40.1 and 43.4 respectively.  Though both countries advanced, their PMI readings still placed below the 50-mark threshold.

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31.07.2020 14:00:27

Oil prices rebounds from record lows amid looming headwinds from the pandemic

Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...

31.07.2020 11:00:29

Asian stocks dwindle as global growth fears overshadow strong tech earnings

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30.07.2020 14:00:26

The U.S. GDP suffers a historic plunge in the second quarter due to the coronavirus pandemic

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30.07.2020 09:00:24

Asian stocks jump, dollar plunges on Fed’s policy

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27.07.2020 13:00:22

Dollar eases amid U.S.-China tensions, coronavirus impact

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