Japan’s international trade activity fell 0.7% year over year in March, marking the fourth straight drop after exports fell 2.4%. That was largely the result of lower shipments to the rest of Asia, and in particular China which fell 9.4%. The electronics industry was weaker with semiconductor shipments down 7.6%, repeating a pattern seen in South Korea and Taiwan. Looking ahead the extended coronation holiday from Apr. 27 to May 6 will compress exports and could disrupt supply chains across the region. It also follows declining exports in five of the nine Asian markets that have reported...