Asia-Pacific Markets Are Mixed With Nikkei Surges 2%

Asia-Pacific Markets Are Mixed With Nikkei Surges 2%

Asia-Pacific markets are mixed with Nikkei surges 2%. Stocks in Asia-Pacific were mixed during Monday trade after economic data showed a mixed picture of Chinese manufacturing activity in October.

In Japan, the Nikkei 225 rose 2.17% in morning trade, Fast Retailing surged nearly 5%. The Topix index rose 1.46%. The report came after Japan's ruling Liberal Democratic Party held on to their single-party majority.  

Hong Kong’s Hang Seng index dropped 1.15% while mainland Chinese stocks also declined. The Shanghai composite slipped 0.39% and the Shenzhen component shed 0.353%.

South Korea’s Kospi gained 0.37% while the S&P/ASX 200 in Australia added 0.6%.

MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.37%.

The U.S. dollar index changed hands at 94.181 following a recent surge from below 93.6.

The Japanese yen was at 114.07 per dollar, after reaching 113.4 lower against the greenback last week. The Australian dollar traded at $0.7511, following a drop from above $0.753 late last week.

Oil prices declined during the morning of Asia trading hours, with international benchmark Brent crude futures shed 0.22% to $83.54 per barrel. U.S. crude futures dropped 0.48% to $83.17 per barrel.

China's official manufacturing purchasing managers' index (PMI) fell to 49.2 in October, versus 50.1 in August. China's factory activity expanded at its fastest pace in four months in October, The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) rose to 50.6 in October.