Asia-Pacific stocks rise; China says its manufacturing activity increased in October

  Asia-Pacific stocks rise;  China says its manufacturing activity increased in October

SINGAPORE – Shares in Asia-Pacific rose in early trading on Monday, with data released over the weekend showing China’s manufacturing activity showing slightly slower growth in October.

In Japan, this Nikkei 225 The opening index rose 1.01% while the Topix index jumped 1.63%. South Korean Cospy 0.58% added.

Meanwhile, Australian stocks moved between positive and negative territory S&P / ASX 200 0.13% higher in the last trading.

There was a slight change in the MSCI’s broad index of Asia-Pacific shares outside of Japan.

Oil prices fell in the early morning of Asian trading hours with an international benchmark Brent crude futures 69 36.16 per barrel down 4.69%. U.S. Crude futures Fell 5.14% to 33.95 per barrel.

China economic data

On Monday, investors’ attention is likely to be on China’s economy. According to the country’s National Bureau of Statistics, China’s official Manufacturing Purchasing Managers’ Index (PMI) fell to I1.4 in October. That was slightly lower than September’s 51.5 reading.

A reading above 50 indicates a PMI reading, while a lower one indicates a contraction. PMI readings are sequential and represent an extension or contraction of the month.

A private survey on China’s manufacturing activity is expected on Monday, with the Caucasian / Market Manufacturing PMI coming out of HK / SIN at 9:45 am.

Coronavirus development

On Corona virus Front, UK Prime Minister Boris Jones announced on Saturday that England a Second national lockdown from Thursday After the surge in the case of the virus.

U.S. But facing a recent surge in infections, the country reported 99,321 New Covid-19 case on Friday, Beating his previous record just the day before, according to Johns Hopkins University. It comes shortly before this week’s election.

Currency

This US dollar index, Which tracks Greenback in front of a basket of his teammates, after rising from a low of 93 93 in late October. Was at 94,109.

This Japanese Yen It traded at 104.62 per dollar after weakening from 104.4 against the greenback last week. This Australian Australian dollar Hands changed hands at 0.7013 after weakening sharply from the 0.708 level last week.

Here’s a look at what’s on tap:

  • China: Coxin / Market Manufacturing PMI at 9:45 a.m. H.K. / S.I.N.
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