An Hour Ago
South Korea’s factory activity slips into contraction in March
South Korea’s factory activity slipped into contraction territory in March, following two straight months of expansion.
The country’s purchasing manager’s index came in at 49.8, down from 50.7 in February.
S&P Global wrote in its report that panel members largely attributed this to subdued demand and downgraded investment plans.
It also added that “a number of firms mentioned that sales remained muted amid weakness in the domestic economy in particular.”
— Lim Hui Jie
2 Hours Ago
Japan factory activity shrinks for 10th straight month in March, PMI data shows
Japan’s manufacturing activity shrank for the 10th straight month in March, according to a private survey published Monday.
The S&P Global final au Jibun Bank Japan manufacturing purchasing managers’ index came in at 48.2 last month.
“The performance of the Japanese manufacturing sector remained downbeat at the end of the first quarter of 2023, though there were signs that the worst of the weakness had passed,” the survey read.
A PMI reading below 50 signifies a contraction, while above is an expansion.
— Shreyashi Sanyal
2 Hours Ago
Business sentiment among large Japan manufacturers falls slightly
Business optimism among large Japanese manufacturers fell in the first quarter, according to the Bank of Japan’s Tankan survey, with the gauge at +11 compared with +12 in the last survey.
Economists polled by Reuters expected a +10 reading for large manufacturers.
However, optimism among non-manufacturers rose to its highest level since August 1991, with the Tankan gauge at +34 compared with +30 in the fourth quarter and beating Reuters expectations of +33.
The Tankan survey is also monitored by the BOJ when formulating monetary policy.
— Lim Hui Jie
2 Hours Ago
China’s factory activity expands in March, surprising expectations
China’s factory activity expanded in March, snapping a five-month streak in contraction territory and surprising expectations.
The country’s manufacturing purchasing manager’s index came in at 50.8, according to official data.
This compares with the 49.1 seen in February and the 49.9 expected by the Reuters poll, which represents a contractionary figure.
Separately, non-manufacturing PMI rose to 53.0, up from the 51.4 seen in January.
— Lim Hui Jie
2 Hours Ago
China’s factory activity expands in March, surprising expectations
China’s factory activity expanded in March, snapping a five-month streak in contraction territory and surprising expectations.
The country’s manufacturing purchasing manager’s index came in at 50.8, according to official data.
This compares with the 49.1 seen in February and the 49.9 expected by the Reuters poll, which represents a contractionary figure.
Separately, non-manufacturing PMI rose to 53.0, up from the 51.4 seen in January.
— Lim Hui Jie
3 Hours Ago
CNBC Pro: This payments firm has Nvidia-like profit margins and is more sustainable, says fund manager
The rapid rise in Nvidia‘s share price amid the artificial intelligence hype has left some investors questioning the sustainability of the company’s valuation.
With the stock trading at a lofty 2.5% free cash flow (FCF) yield for next year, some investors are urging caution. Historically, Nvidia traded at a 4% FCF yield before the pandemic.
Instead, Hannah Gooch-Peters, global equity investment analyst at Sanlam Investments, believes there are other stocks with a 60% operating profit margin, like Nvidia’s, that are more sustainable as investment opportunities.
CNBC Pro subscribers can read more here.
— Ganesh Rao
3 Hours Ago
CNBC Pro: AI is power-intensive. Top Morgan Stanley portfolio manager says that’s an opportunity for one stock
Many tech companies are rapidly developing infrastructure for artificial intelligence as they compete for dominance in this red-hot market.
AI is very power-intensive — and its power needs are only set to rise in the coming years.
Morgan Stanley Investment Management’s Aaron Dunn names one stock to play the trend.
CNBC Pro subscribers can read more here.
— Weizhen Tan
