Asian Markets Rise on Positive Economic News from China

Asian markets are mostly higher on the eve of the U.S. presidential election amid more positive economic news from China. Japan’s benchmark Nikkei index closed 1.3% higher.  The S&P/ASX index in Australia gained 0.2%. Hong Kong’s Hang Seng index rose 1.4%. The KOSPI index in South Korea also rose 1.4%, while Taiwan’s TSEC gained 0.3%.   Shanghai’s Composite index was essentially unchanged.  In late afternoon trading, Mumbai’s Sensex was also unchanged percentage-wise. Investors came back into the markets after data from the privately-run Caixin China Manufacturing Purchasing Managers’ Index showed an increase for October.  In commodities trading, gold is selling at $1,882.90 per ounce, up 0.1%.  U.S crude oil is at $34.55 per barrel, down 3.4%, and Brent oil is selling at $37.48 per barrel, unchanged percentage-wise. All three major U.S. indices are in positive territory in futures trading. 

November 2nd, 2020 by
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