Deal activity in the Asia-Pacific (APAC) region fell 12.2% year-on-year (YoY) in the first quarter of 2024, according to GlobalData, a London-based data and analytics company.

Total deals reached 3,231, which included mergers & acquisitions (M&A), private equity, and venture financing deals, during the period, compared to 3,681 deals a year ago.

“All regions across the globe experienced a decline in deals volume in Q1 2024 amid challenging and uncertain market conditions, and the APAC region is not an exception to this global trend,” Aurojyoti Bose, Lead Analyst at GlobalData, said. 

North America, Europe, the Middle East and Africa, and South and Central America witnessed an annual decline in deal volume by 24.3%, 20.6%, 18.7%, and 39.8%, respectively, in the first quarter.  

Key APAC markets, including China, Japan, Australia, South Korea, Singapore, Malaysia, Hong Kong, and Indonesia, registered YoY decline in deals volume by 18.8%, 8.5%, 5.2%, 1.8%, 21.1%, 24%, 20.8%, and 21.3%, respectively.

However, India and Thailand saw some improvement in deal activity, the report said.

(Editing by Seban Scaria