SINGAPORE — Stocks in Asia-Pacific rose in Monday morning trade, as data showed China's manufacturing activity grew in October.
Shares in Japan led gains among the region's major markets: The Nikkei 225 gained 1.56% while the Topix index jumped 2.12%. South Korea's Kospi added 1.19%.
Mainland Chinese stocks were also higher, with the Shanghai composite up around 0.3% while the Shenzhen component gained 1.12%. Hong Kong's Hang Seng index edged 0.9% higher.
Meanwhile, shares in Australia advanced, with the S&P/ASX 200 last trading 0.46% higher.
MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.4% higher.
Oil prices dropped in the the morning of Asian trading hours, with international benchmark Brent crude futures down 2.93% to $36.83 per barrel. U.S. crude futures declined 3.3% to $34.61 per barrel.
China economic data
Investor focus on Monday was likely on China's economy. A private survey showed Monday that China's manufacturing sector expanding for the sixth straight month in October. The Caixin/Markit Purchasing Managers' Index (PMI) for Chinese manufacturing came in at 53.6 for October, higher than the 53.0 reading forecast by analysts in a Reuters poll.
PMI readings above 50 signify expansion, while those below that indicate contraction. PMI readings are sequential and represent on-month expansion or contraction.
The Monday data release came after China's official manufacturing PMI for October came in at 51.4, according to the country's National Bureau of Statistics. That was slightly lower than the 51.5 reading in September.
Coronavirus developments
On the coronavirus front, U.K. Prime Minister Boris Johnson announced Saturday that England will adopt a second national lockdown starting Thursday following a surge in virus cases.
The U.S. has also been dealing with a recent spike in infections, with the nation reporting 99,321 new Covid-19 cases on Friday, beating its previous record set only a day prior, according to Johns Hopkins University. That comes just ahead of this week's elections stateside.
Currencies
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 94.077 after rising from levels below 93 late in October.
The Japanese yen traded at 104.71 per dollar after weakening from levels below 104.4 against the greenback last week. The Australian dollar changed hands at $0.7021 after weakening sharply last week from levels above $0.708.
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November 02, 2020 at 06:42AM
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Asia-Pacific stocks rise; data show China's manufacturing activity grew in October - CNBC
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