Asia's factory activity continued to expand in May thanks to an ongoing recovery in global demand, surveys showed on Tuesday, though rising raw material costs and supply chain constraints clouded the outlook.
"A spread of new variants is already having a negative impact on supply chains. If this situation persists, it would hit Asian manufacturers that had been scrambling to diversify supply chains out of China," said Toru Nishihama, chief economist at Dai-ichi Life Research Institute. The survey followed China's official PMI on Monday, which showed factory activity in the world's second-largest economy slowed slightly in May on surging raw material costs.
Japanese auto giants Toyota Motor and Honda Motor have suspended output in Malaysia due to lockdown measures imposed to combat the pandemic, Kyodo news agency reported on Tuesday.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asia shares look to extend rally before US jobs testAsian shares edged higher on Monday, looking to extend their recent rally to a third week should U.S. jobs figures show the expected revival in ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
S Korea May exports at full throttle, set fastest pace in 32 yearsSouth Korea exports logged their sharpest expansion in 32 years in May, marking another robust month of shipments fuelled by stronger consumer ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Japan's May factory activity growth slows as emergency weighs -PMIFactory activity in Japan expanded at a slower pace in May as growth in output and new orders eased, and though external demand remains strong ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China factory growth picks up in May but inflation pressures build -Caixin PMIChina's factory activity expanded at the fastest pace this year in May as domestic and export demand picked up, though sharp rises in raw material ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
South Korea May exports at full throttle, set fastest pace in 32 yearsSouth Korea exports logged their sharpest expansion in 32 years in May, marking another robust month of shipments fuelled by stronger consumer ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
PM Lee to give live address on Covid-19 situation at 4pm on May 31SINGAPORE — Prime Minister Lee Hsien Loong will be giving a live address on the Covid-19 situation in Singapore on Monday (May 31) at 4pm, he announced on his Facebook page on Sunday. Great. Covid-19 pandemic is a threat to humanity and it needs human response. 🙏 Looking forward to it 😊
Source: TODAYonline - 🏆 1. / 99 Read more »