Global markets: Asia’s factories see weak activity in April

By Commodity News Service Canada

WINNIPEG, May 2 – The following is a glance at the news moving markets globally.

ASIA’S MANUFACTURING DOWN
Asia’s factory activity was sluggish in April, according to reports on Monday, as Japan’s manufacturing dropped at the fastest pace in three years.

The country’s PMI moved to 48.2 in April from 49.1 in March. Earthquakes in the region contributed to the declines. China’s PMI was also weak at 50.1.

SOUTH KOREAN EXPORTS FALL FOR 16TH MONTH
South Korea’s exports dropped in April, the 16th consecutive month of declines, according to data out of the country.

Exports dropped 11.2 per cent from the same time frame a year prior.

INDIA’S OIL IMPORTS FROM IRAN UP SHARPLY
India increased its oil imports from Iran from year-ago levels, according to reports on Monday.

Analysts say imports were up 48.8 per cent from last year’s levels.

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