Asia Mixed, Though Japan Vaults

Shares in Asia-Pacific were mixed on Monday as investors reacted to economic data that showed a mixed picture of Chinese manufacturing activity in October.

The Nikkei 225 index in Tokyo rocketed 754.39 points, or 2.6%, to end the week’s first session at 29,647.08, with shares of Fast Retailing soaring 4.22%. Those gains came after the country’s ruling Liberal Democratic Party held on to its single-party majority in a Sunday parliamentary election.

The Japanese yen traded at 114.32 per U.S. dollar, weaker than levels below 113.4 seen against the greenback last week.

In Hong Kong, the Hang Seng lost 222.92 points, or 0.7%, to 25,154.32.

Chinese tech stocks in Hong Kong plunged after the country’s market regulators on Friday released a list of proposed responsibilities for the country’s internet platforms spanning areas such as governance and data security.

Shares of Tencent in Hong Kong dropped 2.4% on Monday while Alibaba slipped 2.2% and Meituan dipped 0.8%. Kuaishou Technology also declined 3.5% while fell 1.3%.

The Australian dollar changed hands at $0.7494, following a decline from above $0.753 late last week.


In China, the CSI 300 sank 18.09 points, or 0.4%, to 4,809.68.

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.

However, a private survey released Monday showed Chinese manufacturing activity growth in October expanding — with the Caixin/Markit manufacturing PMI coming in at 50.6.

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.

In other markets

In Taiwan, the Taiex regained 80.83 points, or 0.5%, to 17,068.24.

In Korea, the Kospi index recovered 8.26 points, or 0.3%, to 2,978.94.

In Singapore, the Straits Times restocked 20.88 points, or 0.7%, to 3,219.06

In New Zealand the NZX 50 dropped 69.51 points, or 0.5%, to 13,030.31

In Australia, the ASX 200 rebounded 47.04 points, or 0.6%, at 7,370.78.