In this Asia Focus Video Andrew Robinson, Correspondent for Saxo Capital Markets in Singapore looks into some recent macro data for the region. Much of the data was negative and managed to dent risk sentiment plus increase concerns about the robustness of growth in this all-important region.

China led the way with poor HSBC manufacturing PMI data for March, making it the fifth month of contraction. Market reaction was negative with particularly the Australian dollar being initially hard hit. The data worsened the already downbeat outlook and heightened talk about the likelihood of a reserve requirement ratio cut soon - perhaps already later this month. If it comes though, it’s not likely to help risk appetite that much, says Andrew. The more general factor of how the Chinese economy and other economies in the region can be triggered to move faster is the key element.

New Zealand’s fourth quarter growth figures were not impressive considering that the economy should probably have benefitted from hosting the Rugby World Cup. Although there was a rebound in the agricultural sector, manufacturing was quite disappointing. According to Andrew it’s difficult to see how the numbers will improve going forward with New Zealand expecting a tough time on exports.

There was a slight ray of hope for Japan’s economy in its trade data for February, though a closer look revealed that it’s probably more of a one of than an indication of a real pick-up. High import costs from particularly rising energy prices are a challenge and Japanese exporters will struggle even more if the global situation deteriorates further.

See more of Andrew's Asian market commentary on TradingFloor.com