SINGAPORE — Shares in Asia-Pacific rose in Monday morning trade, while data released over the weekend showed China’s manufacturing activity in October contracting for the second month in a row.
Japanese stocks led gains regionally as the Nikkei 225 jumped 2.01% in early trade while the Topix index climbed 1.57%.
South Korea’s Kospi advanced 0.39% while the S&P/ASX 200 in Australia gained 0.33%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded flat.
China’s factory activity
China’s official manufacturing Purchasing Managers’ Index for October came in at 49.2 over the weekend, below the 50 level separating expansion from contraction. It represented the second straight month of shrinking manufacturing activity in the country, following September’s official manufacturing PMI reading of 49.6.
PMI reading below 50 represent contraction while those above that level signify expansion. PMI readings are sequential and represent month-on-month expansion or contraction.
A private survey on Chinese manufacturing activity in October is set to be released on Monday, with the Caixin/Markit manufacturing PMI expected at 9:45 a.m. HK/SIN.
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, wax at 94.185 after a recent jump from below 93.6.
The Japanese yen traded at 114.17 per dollar, weaker than levels below 113.4 seen against the greenback last week. The Australian dollar changed hands at $0.7521, following a decline from above $0.753 late last week.
Oil prices slipped in the morning of Asia trading hours, with international benchmark Brent crude futures down 0.43% to $83.36 per barrel. U.S. crude futures shed 0.6% to $83.07 per barrel.
Read More:China’s factory activity in October, oil prices
2021-10-31 23:39:18
