Asian stocks traded mixed on Monday as investors rallied on manufacturing data in China in October.
In particular, in Japan o Nikkei 225 recorded gains of 2.61% with the share of Fast Retailing recording a “jump” of 4.22%. It is noted that the ruling Liberal Democratic Party of the country maintained its one-party majority in Sunday’s parliamentary elections.
Meanwhile in Hong Kong, the Hang Seng declines 1.06%. In China, the Shanghai loses 0.08% while o Shenzhen component adds 0.13%.
In the rest of the dashboard, the Kospi of South Korea strengthened by 0.28% while in Australia the S&P/ASX 200 gained 0.64%.
In macro, recovered the manufacturing sector in China in October, and reached its highest level since June, thanks to the improvement of domestic demand.
However, a coronavirus outbreak in various areas in late October has raised concerns about how long the improvement could take.
The Caixin index rose 50.6 points from 50 points in September, indicating that manufacturing activity recovered last month, according to data from Caixin Media and IHS Markit.
The results show a different direction from the official index, which stood at 49.2 points in October and reached a new low after the outbreak of the pandemic in February 2020.
The official index has a much larger sample than the Caixin survey.
The employment rate fell slightly, although it remained in recession, as the decline in energy supply led to lower factory output.
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