Japan manufacturing PMI shows fifth straight monthly contraction

Friday, November 21, 2025 at 00:30 UTC+01:00 (+0100), Japan, Tokyo

News category : Macroeconomic Events

S&P Global’s flash November Japan manufacturing PMI remained in contraction territory for the fifth straight month, although the pace of decline eased slightly versus October. New export orders continued to fall, reflecting sluggish external demand, while input costs and employment metrics showed mixed signals. The persistent weakness in Japan’s factory sector pressures exporters and industrial suppliers and feeds into broader Asia-Pacific growth concerns. Market participants viewed the data as a caution for cyclical Japanese names and a modest headwind for commodity demand in the region, prompting some portfolio rebalancing away from capital-goods exposure into more domestically oriented sectors.

Overall market impact

Light bearish market impact - strength score : 55/100

Detailed breakdown of market impact over instruments, sectors, and asset classes

To access impact scores per sectors and asset classes - you’ll need to subscribe to a membership

Impacted instruments :

Japanese export and industrial stocks

JPY FX pairs

Asian regional equities

Industrial commodities

Japan government bonds

Discover Full Article Details and Insights with a Membership

To access the full article—along with in-depth analysis of how this event could impact the markets—you’ll need to subscribe to a membership. Our community of expert analysts will help you understand the implications clearly and provide relevant guidance to support your investment decisions.