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SINGAPORE: Crude oil prices reversed course after an early bounce on Tuesday, as concerns over coronavirus curbs combined with slowing factory activity in key markets weighed on sentiment.
NEW YORK: Oil prices fell more than 3% on Monday after weak economic data from China and the United States, the world's top oil consumers, and higher crude output from OPEC producers stoked fears of weakness in oil demand and oversupply.
WASHINGTON: U.S. manufacturing activity grew at a slower pace in July for the second straight month as raw material shortages persisted, though there are signs of some easing in supply-chain bottlenecks.
Asian factory activity disrupted by rise in Covid-19 outbreak
Here's a look at the news highlights from Asean countries in the Star-AseanPlus section for Monday (Aug 2)
Asian stocks started the week higher Monday, even as China reported a slowdown in manufacturing activity and countries in the region continued to be hammered by the delta variant.
TOKYO (Reuters): Asia's factories hit a rough patch in July as rising input costs and a new wave of coronavirus infections overshadowed solid global demand, highlighting the fragile nature of the region's recovery.
Thailand's central bank has announced that the country's economy in June continued to be impacted by the latest Covid-19 outbreak, the most deadly wave since the pandemic began.