Why it matters
- South Korea's Kospi rose 2.24% to 5,859.08 on Monday, Nov. 2, as chipmakers rebounded, Yahoo Finance data showed. Japan's Nikkei 225 slipped 0.33% after Kioxia sank 15.8% on a cautious outlook, Trading Economics said.
- China's official manufacturing PMI fell to 49.3 in October from 50.1, below the 50 line that separates growth from contraction, the National Bureau of Statistics said. The non-manufacturing index fell to 49.7.
- A private survey told a different story. The RatingDog China General Manufacturing PMI was 52.0 in October, little changed from 52.1, according to RatingDog and S&P Global.
Session recap: what happened in this region's trading day, with sources.
Asian stocks were mixed on Monday, Nov. 2. South Korea's Kospi rebounded 2.24% on chip buying, while Japan's Nikkei 225 slipped 0.33% after memory maker Kioxia gave a cautious outlook, Trading Economics said. China's markets rose despite weak official data: the National Bureau of Statistics (NBS) said its October manufacturing PMI fell to 49.3, a contraction reading.
| Market | Monday close | Day |
|---|---|---|
| Nikkei 225 (Japan) | 63,081.86 | −0.33% |
| Kospi (South Korea) | 5,859.08 | +2.24% |
| Taiex (Taiwan) | 44,920.14 | −0.65% |
| Hang Seng (Hong Kong) | 23,393.32 | +0.42% |
| Shanghai Composite (China) | 3,638.03 | +1.08% |
| Shenzhen Component (China) | 11,010.68 | +1.63% |
| S&P/ASX 200 (Australia) | 8,856.50 | −0.58% |
| Sensex (India) | 75,692.78 | +1.66% |
| Nifty 50 (India) | 23,440.80 | +1.68% |
Source: Yahoo Finance daily chart data; changes are from Friday, Oct. 30, closes.
What did China's official PMIs show?
China's factory activity shrank in October. The official manufacturing PMI fell 0.8 point to 49.3% from 50.1% in September, the NBS said in its release on Saturday, Oct. 31. A reading below 50 signals contraction.
| China official PMI (NBS) | September | October |
|---|---|---|
| Manufacturing PMI | 50.1 | 49.3 |
| Production | 51.7 | 49.8 |
| New orders | 50.5 | 49.4 |
| New export orders | 50.0 | 48.7 |
| Non-manufacturing business activity | 50.2 | 49.7 |
| Composite PMI output | 50.7 | 49.7 |
Source: National Bureau of Statistics of China, October 2026 PMI release (Chinese version, published Oct. 31 at 9:30 a.m. Beijing time).
Large companies held above 50, at 50.2. Medium and small firms fell to 48.4 and 47.5, the NBS said. In the non-manufacturing sector, construction dropped to 48.0 from 50.3 and services edged down to 50.0.
The private RatingDog China General Manufacturing PMI, compiled by S&P Global, was 52.0 in October, little changed from 52.1 in September. It was the 11th straight month above 50, and output rose at the fastest pace since April, the release said on Monday.
Why did Chinese stocks rise today?
The Shanghai Composite rose 1.08% and the Shenzhen Component 1.63% on reports that regulators planned to meet big banks to expand lending for share buybacks, Trading Economics said. Kweichow Moutai gained 3.38% and CATL 3.12%, Yahoo Finance data showed.
The Hang Seng rose 0.42% to 23,393.32, led by technology shares, Trading Economics said. Xiaomi rose 6.12%, Tencent 2.24% and Meituan 2.03%, Yahoo Finance data showed.
How did Japan, South Korea, Taiwan and Australia trade?
The Nikkei fell 208.25 points to 63,081.86, extending Friday's loss. Kioxia fell 15.78% and Screen Holdings 18.96%, Yahoo Finance data showed. Kioxia's December-quarter profit forecast was read as a sign that AI-driven demand growth may be slowing, Trading Economics said. Tokyo Electron bucked the trend and rose 5.16%. Tokyo's market is closed on Tuesday, Nov. 3, for Culture Day, the Japan Exchange Group calendar shows.
The Kospi rose 128.34 points as investors bought chip heavyweights, Trading Economics said. It cited record October exports of $115.3 billion, up 93.7% from a year earlier, with chip shipments up 259%. SK hynix rose 3.81% and Samsung Electronics 1.78%, Yahoo Finance data showed.
Taiwan's Taiex fell 0.65%, with TSMC down 1.69%. Australia's ASX 200 fell 0.58% ahead of Tuesday's Reserve Bank of Australia decision, Trading Economics said. The RBA's board meets Nov. 2-3, its schedule shows. BHP fell 1.42% and Northern Star 4.75%, Yahoo Finance data showed.
What comes next?
Europe's session is in our Europe Monday recap, and oil's slide, the ISM survey and this week's events are in our day-ahead guide. Friday's session is in our Asia Friday recap, and live levels are on the markets page.
Follow the rest of the trading day on our global market today page, with the latest Asia, Europe and Americas session recaps.
Sources
- National Bureau of Statistics of China, October 2026 China purchasing managers' index (Chinese) (Oct. 31, 2026); the English press release list had not posted the October PMI release when checked on Nov. 2
- RatingDog and S&P Global, RatingDog China General Manufacturing PMI, October 2026 (Nov. 2, 2026)
- Trading Economics, Japan stock market (Nikkei 225)
- Trading Economics, South Korea stock market (Kospi)
- Trading Economics, China stock market
- Trading Economics, Hong Kong stock market (Hang Seng)
- Trading Economics, Australia stock market (ASX 200)
- Japan Exchange Group, market holidays calendar
- Reserve Bank of Australia, board meeting schedules
- Yahoo Finance, chart data for the Nikkei 225, Kospi, Taiex, Hang Seng, Shanghai Composite, Shenzhen Component, S&P/ASX 200, Sensex, Nifty 50, Kioxia, Screen Holdings, Tokyo Electron, SK hynix, Samsung Electronics, Kweichow Moutai, CATL, Xiaomi, Tencent, Meituan, TSMC, BHP and Northern Star