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The au Jibun Bank Japan Manufacturing PMI took a nosedive to 47.7 in December 2023 from 48.3 in the previous month, marking the seventh consecutive month of contraction in factory activity. This was attributed to lackluster demand and mounting price pressures, according to a preliminary estimate.
The au Jibun Bank Japan Services PMI, on the other hand, witnessed a rise to 52 in December 2023 from 50.8 in November, indicating a modest surge in activity, which was the most rapid since September.
Moreover, the au Jibun Bank Japan Composite PMI surged to 50.4 in December 2023 from a final 49.6 in the preceding month, as per flash data. This upturn was bolstered by a stronger hike in services activity, effectively offsetting a sharper decline in factory output.
Investors may take note of the following ETFs: (JEQ), (EWJ), (DXJ), (FXY).
In terms of currency, the exchange rate to watch is (USD:JPY).
