Japan's exports fell in July for the first time in nearly 2-1/2 years, driven by weak demand for light oil and chip-making equipment and raising concerns about a global recession as the demand in key markets such as China weakens.
Hong Kong's exports continue to decline for the 15th consecutive month, with a 9% decrease in July, due to trade contraction with mainland China, the US, and Europe, affecting the city's economic recovery and prompting a downgrade in GDP forecast.
Thailand's tourism and exports, particularly in the chemical and plastic sectors, are expected to decline due to the economic slowdown in China caused by the real estate crisis, leading to a significant decrease in the number of Chinese tourists visiting Thailand and affecting the country's overall economy.
China's ban on seafood imports from Japan, prompted by concerns over radioactive contamination from the Fukushima nuclear plant, is seen as a political gesture with minimal economic impact due to Japanese seafood exports making up less than 1% of Tokyo's global trade dominated by cars.
Profits at China's industrial firms fell 6.7% in July, marking the seventh consecutive month of decline, as weak demand continues to hinder the country's post-pandemic recovery.
Vietnam's exports have declined for the sixth consecutive month due to weaker global demand and China's deteriorating economic outlook, posing a risk to the country's GDP growth target.
South Korea's exports are likely to have fallen for the 11th consecutive month in August due to a slower Chinese economy and weakening demand in other regions.
Japan's factory output fell more than expected in July, indicating a challenging start to the second half of the year for manufacturers amid concerns about China's growth and the global economy. Output declined 2.0% in July from the previous month, driven by decreased domestic and overseas orders, particularly in the electronic parts and production machinery sectors. However, car production rose 0.6% due to improved supply chain conditions.
If China were to slip into a deflationary spiral like Japan in the 1990s, it could lead to a decrease in consumer spending, a weakened economy, and negative consequences for the rest of the world, including a slowdown in imports for the US and adverse effects on developing economies reliant on Chinese exports and investment.
Japan's decision to release treated radioactive water from the Fukushima nuclear power plant could potentially lead to a 0.2% decrease in the country's real GDP, primarily due to the impact on inbound tourism from China and the ban imposed on Japanese seafood products by China and Hong Kong.
China's exports are expected to contract at a slower pace in August, with a projected fall of 9.2%, as manufacturers continue to face pressure due to weak overseas demand and a shrinking labor market.
China's share of US goods imports has dropped to its lowest level since 2006, as American companies reorganize supply chains to reduce dependence on China and shift to countries like Mexico and Vietnam.
China's imports and exports experienced a monthly decline in August, with exports falling by 8.8% and imports falling by 7.3%, indicating ongoing challenges despite some slight improvement.
China's total import and export value in the first 8 months of this year slightly decreased by 0.1 percent compared to the previous year, but exports have continued to grow and the global market share remains stable, highlighting the overall stability of China's foreign trade operations.
Japanese real wages continued to decline for the 16th consecutive month in July, posing a challenge for the Bank of Japan's efforts to stimulate inflation and economic growth.
Big Japanese manufacturers and the services sector in Japan are experiencing a decline in confidence, with concerns of a slowdown in China's economy affecting global and domestic growth, according to a Reuters poll. The weak sentiment in the business sector raises doubts about the ability of exports to drive economic recovery amid weak domestic demand. Many companies cited high input costs and weak demand as contributing factors, along with geopolitical risks and tensions between the US and China.
India's merchandise exports dropped by 6.9% in August, marking the seventh consecutive month of decline, due to weak external demand, while the merchandise trade deficit reached a 10-month high of $24.16 billion driven by higher crude oil prices and robust domestic demand.
Singapore's annual exports fell for the 11th consecutive month in August, declining by 20.1% as the trade-dependent economy struggles with global headwinds and declining demand, indicating that export stabilization is not yet within reach.
Asian shares decline amidst concerns about the Chinese property sector, while Japanese investors sell chip stocks; traders prepare for central bank meetings and the Federal Reserve rate decision.
Asian stock markets mostly declined, with Japan's Nikkei 225 leading losses, as investors were concerned about upcoming central bank decisions and the possibility of the Bank of Japan ending its negative interest-rate policy.
Asia-Pacific markets fell as the Bank of Japan kept rates unchanged and noted a "moderate recovery" in the economy, while Japan's private sector activity expanded at its slowest pace since February and the country's August inflation rate remained above the BOJ's target for the 17th straight month.
Profits at China's industrial firms decreased by 11.7% in the first eight months of the year, but the pace of decline eased slightly, suggesting a modest recovery is taking place due to policy support measures.
Japan's core inflation slowed for the third consecutive month in September, mainly due to falling fuel costs, providing some relief for the fragile economic recovery; however, factory output remained flat in August, indicating the negative impact of weak global demand and China's economy.
The growth forecasts for Malaysia, the Philippines, Singapore, and Thailand have been downgraded due to declining exports to China and other factors, according to a survey by the Japan Center for Economic Research and Nikkei.
South Korea's exports in September showed a milder decline than expected, indicating a hopeful sign for the global economy as the country experienced the mildest drop in a yearlong downturn.
Japan's factory activity fell at the fastest pace in seven months in September, reflecting weakening global economic conditions and a decline in new export orders.
Most Japanese companies expect a continued slowdown in China's economy until 2025, with many looking to shift production to other markets, according to a Reuters poll, despite recent signs of recovery in China's economic activity.
China's exports decline improved modestly in September, with the pace slower than the previous month, while imports remained largely unchanged, and analysts anticipate more support will be needed as external demand is expected to stay weak.
China's chip imports have declined by 15% in the first nine months of 2023, indicating the impact of US tech export controls, with the volume of chips imported showing a modest improvement in recent months despite stifling export restrictions.
Japan's economy is vulnerable to China's economic downturn due to a lasting deceleration in Chinese growth, geopolitical tensions, and intellectual property theft from Japanese firms in China, leading to a reduction in exports and negative GDP growth in Asia.
China's exports and imports declined at a slower pace in September, indicating a gradual stabilization in the economy, although challenges remain in the face of deflationary pressure, a property crisis, global slowdown, and geopolitical tensions.