Internet reports that Japan's latest PMI data supports KIC's view that the Bank of Japan may raise interest rates as soon as possible. Japan's June composite PMI rose to a four-month high of 51.4. Both manufacturing and services PMI increased slightly in June. Abhijit Surya, a macroeconomist at Capital Investment Corporation, wrote that the manufacturing output index suggests that industrial production is accelerating again, while new export orders indicate a moderate increase in sales. The services PMI is well above the historical average and is consistent with the considerable growth in consumer spending. All in all, the Bank of Japan is expected to have reason to raise interest rates in October rather than early next year, as many expect. (Jin Shi)