2024-04-23 02:32:12 ET
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In Japan, data shows manufacturing activity neared stability in April, while services activity expanded the most in 11 months.
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The au Jibun Bank Japan Manufacturing PMI increased to 49.9 in April 2024 from 48.2 in the previous month, above market forecasts of 48, signaling a near stabilization, the preliminary figures showed, marking the eleventh straight month of contraction in factory activity but the softest drop in the sequence, as both output and new orders shrank the least in ten months, with new export orders declining less.
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The au Jibun Bank flash Japan Services PMI increased to 54.6 in April 2024 from a final 54.1 in the previous month, marking the 20th successive month of growth in the service sector and the strongest pace since May 2023, as new orders rose the most in 10 months while overseas orders accelerated.
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The au Jibun Bank Japan Composite PMI was up to 52.6 in April 2024 from a final 51.7 a month earlier, flash data showed, marking the fourth straight month of growth in private sector activity and the strongest pace since last August.
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Investors now look forward to the Bank of Japan’s policy decision later this week.
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Japan's Nikkei 225 ( NKY:IND ) rose 0.3% to around 37,541 points on Tuesday, rising for the second straight session.
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( USD:JPY ) is trading at 154.748.
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More on Japan
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Japan’s trade balance swings to surplus in March as exports surge
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Japan's producer prices up 0.8% in March, rise the most in five months
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Japan's industrial output slips 0.1% in February, retail sales exceed forecasts
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Japan's central bank hikes interest rate after 17 years, scraps yield curve control
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Japan's manufacturing activity close to expansion in April; services PMI rises to 11-month peak