The number of Americans filing new applications for jobless benefits increased sharply last week, consistent with a material softening in labour market conditions.
China's auto market maintained steady expansion in August, with both production and sales reporting double-digit increases, data from the China Association of Automobile Manufacturers (CAAM) showed on Thursday.
Rubber futures weakened across Asia this week, as higher production costs and waning auto sector demand squeezed both producers and buyers.
A veteran banker who led a Malaysian lender to record profit said the Southeast Asian country can hold off on further cutting borrowing costs as current levels are sufficient to support growth.
Economists have cautioned that Malaysia’s stronger-than-expected industrial output in July may not be sustained, as front-loading of shipments ahead of fresh US tariffs and persistent global uncertainties are likely to temper momentum in the coming months.
US consumer prices rose more than expected in August and the annual increase in inflation was the largest in seven months, but the data is not expected to prevent a much-anticipated interest rate cut from the Federal Reserve next week against the backdrop of labour market weakness.