Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Japan’s Business Activity Shrinks in October: PMI Data
Preliminary data from the au Jibun Bank showed Japan’s business activity contracted in October 2024, with both manufacturing and services sectors shrinking. This marks a significant downturn in Japan’s economic outlook, driven by weak demand and production challenges in key industries.
Manufacturing Sector Contraction
Japan's manufacturing PMI fell to 49.0 in October, down from 49.7 in September, indicating a deeper contraction than expected. This is the third consecutive month of decline for the sector, reflecting disruptions in major automakers facing a growing safety scandal. Additionally, shrinking local and overseas demand caused order growth to decline, further exacerbating the slowdown.
The Services Sector Slips into Contraction
The services sector, which had previously been a source of resilience for Japan's economy, also saw a sharp drop. The services PMI decreased from 53.1 in September to 49.3 in October, falling into contraction for the first time since June. The dip in services activity contributed to a decline in overall business activity, as the composite PMI fell to 49.4 from 52.0 in the previous month.
Economic Outlook
Economists from S&P Global highlighted weaker economic conditions, noting that while private spending had picked up, it was insufficient to offset broader challenges. Japanese companies are growing more cautious about the country’s economic future.
