Export activity has slowed across Asia. Malaysia has become the ninth out of 12 Asian countries to report lower exports year over year in April with a 4.5% drop in dollar terms. South Korea’s preliminary data for May suggests more of the same with a 9.4% year over year slump in exports. Excluding shipping the drop was 10.3% and was led by a 30.5% collapse in exports of semiconductors. The latter represented an acceleration from an 18.5% slide in the prior three months. Slowing trade elsewhere in the electronics supply chains was only partly offset by a 13.5% year over year jump in automo...