Asia's factory pain worsens

Malaysia, Vietnam, and the Philippines saw PMIs rebound from April, though the indices all remained below the 50-mark threshold that separates contraction from expansion.

TOKYO: Asia's factory pain deepened in May as the slump in global trade caused by the coronavirus pandemic worsened, with export powerhouses Japan and South Korea suffering the sharpest declines in business activity in more than a decade.

A series of manufacturing surveys released on Monday suggest any rebound in businesses will be some time off, even though China's factory activity unexpectedly returned to growth in May.