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JAPAN MANUFACTURING PMI IMPROVES TO 49.5 IN APRIL - JIBUN



The manufacturing sector in Japan continued to contract in April, albeit at a slower rate, the latest survey from Jibun Bank revealed on Monday with a manufacturing PMI score of 49.5.

That's up from 49.2 in March although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

The improvement in the reading came from a slower reduction in total new order inflows. Firms registered a tenth consecutive reduction, but the rate of contraction was the softest since last November. Weak economic conditions domestically and globally reportedly weighed on demand and client confidence, though some firms mentioned that inbound demand had stabilized somewhat.

As such, the rate of reduction in foreign demand for Japanese manufactured goods eased to the slowest for six months. Despite this, production levels at Japanese goods producers in April decreased at a moderate pace that was nonetheless sharper than that in March.

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MALAYSIA MANUFACTURING PMI UNCHANGED IN APRIL - S&P GLOBAL



The manufacturing sector in Malaysia continued to contract in April, at a steady pace, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 48.8.

That's unchanged from 48.6 in March, and it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

The latest PMI reading suggested that GDP growth is running at a similar level to that seen in the final quarter of 2022, as well as modest year-on-year improvements in official industrial production data. Manufacturers often noted that demand in the sector remained muted at the start of the second quarter, with some reports of customers reducing the size of their orders.

As a result, total new business moderated for the eighth consecutive month, and to a broadly similar extent to that seen in March. Demand conditions in international markets were more positive, with new export orders up fractionally following a nine-month sequence of softening.

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AMENDED: NZ DOLLAR RISES AGAINST MAJORS



(Earlier story being withdrawn and corrected to say NZ Dollar Rose Against Major currencies)

The New Zealand dollar strengthened against other major currencies in the Asian session on Wednesday.

The NZ dollar rose to nearly a 3-week high of 0.6249 against the U.S. dollar and a 2-day high of 1.0681 against the Australian dollar, from yesterday's closing quotes of 0.6207 and 1.0731, respectively.

Against the euro and the yen, the kiwi edged up to 1.7639 and 85.05 from yesterday's closing quotes of 1.7707 and 84.77, respectively.

If the kiwi extends its uptrend, it is likely to find resistance around 0.64 against the greenback, 1.05 against the aussie, 1.71 against the euro and 87.00 against the yen.

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SINGAPORE PRIVATE SECTOR ACCELERATES IN APRIL - S&P GLOBAL



The private sector in Singapore continued to expand in April, and at a faster pace, the latest survey from S&P Global showed on Thursday with a PMI score of 55.3.

That's up from 52.6 in March, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

A key driver of the improved headline reading was a sharp and accelerated rise in total new business placed with Singaporean private sector firms. The rate of new order growth was the best seen for five months, and frequently linked to firmer market conditions and improved client spending.

The upturn was also supported by improved foreign demand for Singaporean goods and services, with new export business rising modestly after a solid decline in March. Firmer customer demand and rising amounts of new work drove a further increase in output, with the pace of expansion quickening to a six-month high. The rate of growth was also comfortably above the series long-run average.

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AUSTRALIA HOME LOAN DATA DUE ON FRIDAY



Australia will on Friday release March figures for home loans, highlighting a modest day for Asia-Pacific economic activity. Loans are expected to slip 1.0 percent after shedding 1.2 percent in February.

Singapore will provide March figures for retail sales, with analysts expecting a fall of 0.1 percent on month and a gain of 6.0 percent on year after rising 3.9 percent on month and 12.7 percent on year in February.

Taiwan will release April data for consumer prices; in March, inflation was up 0.27 percent on month and 2.35 percent on year.

China will see April results for the services PMI from Caixin, with forecasts suggesting a score of 57.3, down from 57.8 in March.

Indonesia will provide Q1 numbers for gross domestic product, with forecasts calling for a decline of 1.0 percent on quarter and an increase of 4.95 percent on year. That follows gains of 0.36 percent on quarter and 5.01 percent on year in the three months prior.

Finally, the markets in Japan and South Korea are closed on Friday for Children's Day, while Thailand remains closed for Coronation Day.

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EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY INDUSTRIAL OUTPUT DATA DUE



Industrial production from Germany and investor confidence from the euro area are the top economic news due on Monday.

At 2.00 am ET, Destatis is scheduled to issue Germany's industrial output for March. Economists forecast industrial production to fall 1.3 percent on a monthly basis, following a 2 percent rise in February.

In the meantime, foreign trade data from Finland and manufacturing output from Denmark are due.

At 4.30 am ET, Eurozone Sentix investor confidence survey results are due. The economic sentiment index is expected to improve to -8.0 in May from -8.7 in April.

At 5.00 am ET, foreign trade figures are due from Greece.

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POUND SLIDES AGAINST MOST MAJORS



The British pound weakened against most major currencies in the Asian session on Tuesday.

The pound dropped to a 4-day low of 1.1207 against the Swiss franc, from yesterday's closing value of 1.1221.

Against the U.S. dollar and the yen, the pound slipped to 4-day lows of 1.2604 and 170.14 from yesterday's closing quotes of 1.2617 and 170.42, respectively.

If the pound extends its downtrend, it is likely to find support around 1.09 against the franc, 1.22 against the greenback and 164.00 against the yen.

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DUTCH INDUSTRIAL PRODUCTION CONTRACTS 4%



The Netherlands' industrial output decreased for the third straight month in March, largely due to a sharp fall in chemical output, figures from the Central Bureau of Statistics showed on Wednesday.

Industrial production fell 4.0 percent year-on-year in March, after a 2.3 percent decline in February.

Although total manufacturing output contracted, about half of all business classes produced more in March than in the same month a year earlier, the agency said.

The chemical industry had the largest negative contribution of 17.6 percent, followed by rubber and plastic with a 9.5 percent fall.

On the other hand, the transport equipment industry experienced the highest growth, rising by 12.9 percent yearly in March.

On a monthly basis, industrial production decreased a seasonally and working-day adjusted 2.0 percent in March.

Entrepreneurs in the manufacturing industry were less positive in April, as they were less upbeat about the order book and the expected activity.

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CHINA CPI SLIPS 0.1% ON MONTH IN APRIL



Overall consumer prices in China were down 0.1 percent on month in April, the National Bureau of Statistics said on Thursday.

That missed expectations for a flat reading following the 0.3 percent decline in March.

On a yearly basis, inflation rose 0.1 percent - also shy of forecasts for an increase of 0.4 percent and slowing from 0.7 percent in the previous month.

The bureau also said that producer prices dropped 3.6 percent on year versus expectations for a decline of 3.2 percent following the 2.5 percent contraction a month earlier.

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