Asia’s Factories May Be Over Worst as China Demand Picks Up

Asia’s factory managers saw glimmers of hope in June, with the region’s purchasing managers indexes turning up across the board as demand from China picked up.

PMIs for Japan, South Korea, and Taiwan -- the region’s manufacturing powerhouses -- improved slightly, but stayed below 50, the dividing line between contraction and expansion. Factory output in Vietnam and Malaysia grew for the first time since January and December, before the virus spread in the region. Indonesia’s index surged almost 11 points, the biggest increase since at least 2011, while remaining below 50, and India’s followed a similar trajectory, rising sharply from May but remaining in contraction for a third straight month.