Malaysia's manufacturing sector contracted in May, S&P Global said Tuesday.
The latest seasonally adjusted S&P Global Malaysia Manufacturing Purchasing Managers' Index was 49.9, compared with 51.6 in April.
The reading showed weakness in the demand conditions as price hikes for goods dampened sales growth.
Indonesia's manufacturing sector recorded stability in May, S&P Global said Tuesday.The headline S&P Global Indonesia Manufacturing Purchasing Managers' Index was 50.0, compared with 49.1 in April.The reading signaled stable operating conditions after April's contraction, as stronger domestic demand supported a second consecutive increase in new orders.
Australian consumer confidence rose 2.7 points in the week of May 25 to 31 to 68.8 points, its highest level since early March, according to a Tuesday note from ANZ Research.Despite the rise, confidence remains 17.5 points below the 2025 average, ANZ economist Sophia Angala said.The four-week moving average lifted 0.4 points to 66.4 points.Weekly inflation expectations were down 0.2 percentage points to 5.9%, while the four-week moving average fell to 6.1%.Current financial conditions over the last year rose 3.2 points to 61.9, while financial conditions over the next 12 months increased 2.2 points to 75.1.Short-term economic confidence over the next 12 months was up 4.6 points to 60.1, while medium-term economic confidence over the next five years rose 0.4 points to 75.8.The "time to buy a major household item" sub-index increased 3.1 points to 71.2, per the report.The weak level of consumer confidence supports expectations that the Reserve Bank cash rate will likely stay at 4.35% in the near term, according to Angala.
Taiwan's manufacturing sector remained in the stable "green" zone for a second consecutive month in April, although its business climate score saw a minor decline amid Middle East tensions, Focus Taiwan reported Tuesday, citing the Taiwan Institute of Economic Research (TIER).Strong artificial intelligence demand continued to bolster the sector, but some firms' early inventory purchases triggered by the regional conflict weighed on trade-related metrics, causing the composite index to drop by 0.97 points to 13.66, the news daily said, citing the institute's statement.While export price increases lifted the pricing component, slower year-on-year growth in exports, imports, orders, and industrial production contributed to the modest overall score reduction, the report said.Sustained demand for AI, high-performance computing, and cloud services drove growth in electronics and machinery industries, whereas traditional sectors faced challenges from volatile energy prices, uneven demand recovery, and heightened global competition, the publication said.The plastics and rubber industry shifted to rapid-growth yellow-red, but the electronics components sector cooled from overheating red to yellow-red due to inventory adjustments by end customers, it added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)