Japanese manufacturing activity shrank for the third consecutive month in September.

On September 24th local time, according to a report released by S&P Global, Japan's manufacturing purchasing managers' index in September had a preliminary value of 48.4, marking the third consecutive month below the 50.0 threshold, indicating that manufacturing activity is still contracting. Prior to this, a report released by the Japanese Ministry of Finance on September 1st showed that due to factors such as US tariff policies, Japan's manufacturing industry's ordinary profits in the second quarter of this year decreased by 11.5% compared to the same period last year, marking a decline for two consecutive quarters. Officials from the Japanese Ministry of Finance stated that US trade policies are putting the Japanese economy at risk of a downturn.