Japan manufacturing PMI hits eight-month low

On Monday, a preliminary private survey published by Markit/Nikkei showed that the Japanese manufacturing sector activity grew at the slowest pace in eight months in July.

The Markit/Nikkei Japan Flash Manufacturing Purchasing Managers Index (PMI) fell to 52.2 in July on a seasonally adjusted basis from a final 52.4 in June.

Paul Smith, senior economist at IHS Markit, which compiles the survey, noted: "The slowdown was driven by stagnation in export orders, amid reports of weaker demand from South East Asia markets. Nonetheless, the sector continues to add jobs, with employment growth remaining amongst the best since the financial crisis."