Asia Manufacturing Holds Up But Cracks Show as War Lifts Prices

Manufacturing across much of Asia expanded in March, with activity improving in South Korea, Malaysia and Thailand, even as other economies saw the impact of energy supply disruptions from the US-Israeli war on Iran that have pushed oil prices higher.

The conflict appeared to weigh on activity in Vietnam, Indonesia and semiconductor hub Taiwan, where readings eased from February while remaining above the 50 threshold that separates expansion from contraction, S&P Global data published Wednesday showed. Thailand led the region with a reading of 54.1, while Malaysia returned to expansion after contracting the previous month.