Precise Investors Editorial Team
China’s private RatingDog manufacturing purchasing managers’ index (PMI) slipped to 50.6 in October from 51.2 the previous month, missing market forecasts of 50.7
Most Asian stocks were subdued on Monday as investors digested latest signs of slowing momentum in China’s manufacturing sector, while South Korean equities soared to a record high, driven by strong gains in major chipmakers.
Markets’ focus was squarely on the Bank of Australia’s policy meeting starting later in the day.
China’s private RatingDog manufacturing purchasing managers’ index (PMI) slipped to 50.6 in October from 51.2 the previous month, missing market forecasts of 50.7.
The data signalled that factory activity expanded only modestly, and reinforced concerns that the world’s second-largest economy remains under pressure from sluggish demand at home and abroad.
The blue chip Shanghai Shenzhen CSI 300 dropped 0.4% on Monday, while the Shanghai Composite index was largely muted.
Hong Kong’s Hang Seng index added 0.5%.
Japanese markets were closed for a public holiday.
Singapore’s Straits Times Index added 0.5%, while futures for India’s Nifty 50 ticked higher.
South Korea stood out as a regional bright spot after government data released on Saturday showed exports rose 3.6% in October from a year earlier, beating expectations for a slight decline.
Semiconductor shipments climbed 25.4%, underscoring resilient global demand.
The KOSPI climbed more than 2% to a new high of 4198.97 points, led by strong gains in chipmakers.
SK Hynix shares soared more than 7%, extending last week’s rally after posting record quarterly profits, while Samsung Electronics jumped 2%.
The Reserve Bank of Australia (RBA) will begin a two-day policy meeting on Monday, where the central bank is widely expected to hold its cash rate at 3.6% on Tuesday, amid signs of persistent inflationary pressures.
Data last week showed Australia’s consumer price index rose 1.3% in the September quarter and 3.2% from a year earlier, exceeding forecasts and edging above the RBA’s 2–3% target range.
Core inflation also picked up, tempering hopes that rate cuts might come early next year and prompting economists to predict a longer period of policy restraint.
Australia’s S&P/ASX 200 was largely unchanged on Monday.
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