TOKYO: Japanese manufacturing activity expanded at the fastest pace in almost four years in December as new orders accelerated, a revised survey showed on Thursday, in a sign that steady economic growth will continue into the new year.
The Markit/Nikkei Japan Manufacturing Final Purchasing Managers Index (PMI) was a seasonally adjusted 54.0 in December, slightly below the preliminary reading of 54.2 but still above a final reading of 53.6 in November.
Even after the slight downward revision, the index was at the highest since February 2014. The index also remained above the 50 threshold that separates contraction from expansion for the 16th straight month.
“The Japanese manufacturing sector concluded Q4 with the highest PMI reading since February 2014,” said Joe Hayes, economist at IHS Markit, which compiles the survey.
“Output growth accelerated for a fifth month in succession, while new business opportunities, both domestic and foreign, rose sharply.”
The final index for new orders was 56.2, below the flash reading of 56.6 but above a final 54.7 in the previous month.
The final output price index was 51.0, which is less than the flash reading of 51.4 and below a final 51.3 in November.
One of the government’s first tasks in the new year is to secure parliamentary approval of the national budget for fiscal 2018 starting in April.
Last month, Prime Minister Shinzo Abe’s cabinet approved a record budget for fiscal 2018 that the government hopes will keep the economy on track for a sustained recovery.
Japan manufacturing activity at fastest pace in almost 4 years
Japan manufacturing activity at fastest pace in almost 4 years
Closing Bell: Saudi main index climbs to 10,485
RIYADH: Saudi Arabia’s Tadawul All Share Index edged up on Sunday, gaining 34.32 points, or 0.33 percent, to close at 10,484.59.
The total trading turnover of the benchmark index stood at SR2.59 billion ($690 million), with 168 listed stocks advancing and 87 declining.
The Kingdom’s parallel market Nomu also gained 100.37 points to close at 23,454.65.
The MSCI Tadawul Index advanced by 0.13 points to 1,377.44.
The best-performing stock on the main market was Nama Chemicals Co., whose share price increased by 9.98 percent to SR22.38.
The share price of Al Masar Al Shamil Education Co. rose by 9.15 percent to SR23.85.
Saudi Paper Manufacturing Co. also saw its stock price climb by 8.42 percent to SR57.95.
Conversely, the share price of Canadian Medical Center Co. dropped by 6.37 percent to SR6.03.
The stock price of Kingdom Holding Co. also declined by 3.16 percent to SR8.28.
In the parallel market, Alfakhera for Mens Tailoring Co. was the top performer, with its share price advancing by 16.40 percent to SR8.80.
On the announcements front, Theeb Rent a Car Co. said it had signed a long-term vehicle leasing services contract valued at SR110.4 million with Hungerstation Co.
Under the deal, Theeb will lease 2,000 vehicles to HungerStation for a period of four years starting from 2026, according to a Tadawul statement.
The statement added that the vehicles will be delivered in batches within the first six months from the contract start date, taking into consideration global logistical circumstances and procedures beyond the control of both the agents and the company.
The contract is expected to have a positive impact on the company’s financials from the first quarter of 2026.
The share price of Theeb Rent a Car Co. declined by 0.79 percent to SR37.80.
