TOKYO : Asia's factory output weakened in October as global recession fears and China's zero-COVID policy hurt demand, business surveys showed on Tuesday, adding to persistent supply disruptions and darkening recovery prospects.Further U.S. interest rate hikes are also expected to force most Asian central
TOKYO : Asia's factory output weakened in October as global recession fears and China's zero-COVID policy hurt demand, business surveys showed on Tuesday, adding to persistent supply disruptions and darkening recovery prospects.
China's Caixin/S&P Global manufacturing purchasing managers' index stood at 49.2 in October, up from 48.1 in September but remaining below the 50-point mark that separates growth from contraction. "Another big risk is the pace of U.S. rate increases. If the Federal Reserve continues to hike rates steadily, that could ignite capital outflows from Asia and hurt exports."
That followed data that showed South Korea's exports fell the most in 26 months with shipments to China, its largest market, extending declines.
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