Economic news

The United States saw an acceleration in its May manufacturing activity. This was attributed mainly to surging demand, which supported orders amid the country’s emergence from the coronavirus drag. However, pending tasks continued to mount as raw materials and labor fell short. The Institute for Supply Management’s index of national factory activity was read at […]

Asian share markets were seen upbeat as global equities placed near a record high on Wednesday. The series of upswings came after the United States posted an expansion in its manufacturing activity, heavily indicating that the world’s largest economy has been gaining tighter momentum. After a record high on Tuesday, MSCI’s gauge of shares across […]

Euro zone manufacturing activity was seen expanding at a record pace in May, a study suggested on Tuesday, indicating growth would have been even faster without supply bottlenecks that have led to an unprecedented rise in input costs. Europe’s economy has been badly hit by the coronavirus pandemic crisis in the past year, forcing the […]

The Reserve Bank of Australia kept its cash rates at record lows on Tuesday. The central bank also reaffirmed its lower-for-longer policy stance despite recently published data showing the country’s more-than-expected economic growth. The Reserve Bank of Australia (RBA) held on to its 0.1% policy settings for a sixth straight meeting. The Australian dollar fell […]

Asian share markets recorded an upbeat performance, while gold placed near a five-month through on Tuesday. The series of gains came ahead of European and U.S. data, which will render hints about the current status of the global economy. MSCI’s broadest index of Asia-Pacific shares outside Japan reached its strongest level in a month, securing […]

Asia’s factory activity remained robust in May, and the expansion was owed mainly to an ongoing rebound in global demand. However, an increase in costs of raw materials and supply chain bottlenecks heavily dampened the region’s economic outlook. China and South Korea saw a minimal jump in their respective purchasing managers’ index (PMI). The readings […]

A total of T$420 billion ($15.20 billion) in fresh stimulus spending was approved by Taiwan’s parliament on Monday in a bid to lift the country’s economy after the COVID-19 pandemic drag. A surge in coronavirus cases has prompted Taiwan to reinstate restrictions, limiting personal gatherings and shutting entertainment venues while it tries to accelerate its […]

Gold shone brightly on Monday trade in Asia as the dollar weakened and bond yields lowered after investors digest Chinese economic data. Gold futures advanced 0.15% to $1,908.25 by 1:49 AM ET, remaining above the $1,900-mark. The gold contract rolled over to the Aug 21 contract on May 30. The dollar, which usually moves inversely […]

China saw a minimal decline in its factory activity in May. The contraction was due to an increase in raw material prices and supply constraints, which dragged the industrial sector including small and export-heavy businesses. The official manufacturing Purchasing Manager’s Index (PMI) was read at 51.0 in May. The figure came lower than the 51.1 […]

Monday saw an increase in Asian share markets, putting them on track for their third weekly jump. Investors’ enthusiasm was mainly from optimism that employment figures in the United States will indicate a rebound in hiring, suggesting a sustained global economic recovery. MSCI’s broadest index of Asia-Pacific shares outside Japan traded a fraction firmer. Japan’s […]