Asia's factory activity expands on solid global demand

Asia's factory activity expanded in January, driven by solid global demand, with Japan and South Korea experiencing multi-year growth rates. China's manufacturing activity also showed improvement, with export orders rebounding. The S&P Global PMI for China rose to 50.3, while Japan's PMI increased to 51.5 and South Korea's to 51.2. The International Monetary Fund has raised its global growth forecast, indicating a favorable near-term outlook for Asia's export-oriented sectors. Other countries like Taiwan, Indonesia, Malaysia, the Philippines, and Vietnam also reported growth in manufacturing activity.