Asian stock markets mixed at Tuesday’s close



Major Asian stock markets closed with gains on Tuesday amid speculation that Chinese authorities are preparing to gradually ease COVID restrictions.

The Asia Dow, which includes the region’s blue chip companies, rose 2.82%, or 79.33 points, to 2,893.06 on Tuesday.

Tokyo’s Nikkei 225 stock exchange rose 0.33%, or 91.46 points, to 27,678.

The Jibun Bank Japan Manufacturing Purchasing Managers’ Index (PMI) fell to a 21-month low of 50.7 in October, signaling little overall improvement in the health of the manufacturing sector.

The Hang Seng, the benchmark for blue-chip stocks traded on the Hong Kong stock exchange, posted the day’s best performance, jumping 5.23% or 768.25 points to 15,544.27.

Retail sales in Hong Kong fell for the second consecutive month, down 1.5% year-on-year in September, after a slightly revised drop of 3% in August.

China’s Shanghai Stock Exchange gained 2.62%, or 75.72 points, to hit 2,996.20.

Activity in China’s manufacturing sector contracted for the third consecutive month as COVID-19-related lockdowns weighed on both production and demand, a business survey showed on Tuesday.

Caixin China’s general manufacturing PMI rose to 49.2 in October from 48.1 in September, according to S&P global.

India’s benchmark Sensex rose 0.61%, or 369.67 points, to end the day at 61,116.26 points, while Singapore’s index climbed 1.21%, or 37, 39 points, to close at 3,130.50.

On Tuesday, the S&P Global India manufacturing PMI beat the market estimate, hitting 55.3 in October from 55.1 in September.

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