MNI: The latest batch of manufacturing PMI data......>

MNI: The latest batch of manufacturing PMI data out of Japan & South Korea

doesn't auger well for the global trade backdrop. IHS-Markit noted that South

Korea's survey showed "further signs of trouble for the global trade cycle were

presented by the PMI data, which showed new export orders falling for a sixth

month running. Given South Korea's close trading ties with China and the US,

falling export demand acts as a worrying indicator for global economic growth."

For Japan they noted that "Japan Manufacturing PMI data brought bad news for the

global trade cycle at the start of 2019, with new export orders falling at the

sharpest rate in two-and-a-half years. Anecdotal evidence suggested that sales

of goods relating to semiconductors had particularly suffered, which bodes ill

for other Asian exporters. Meanwhile, domestic markets also showed signs of

frailty as total demand declined for the first time since September 2016."