Asian stocks advanced on Monday in late morning trade after a private measure of Chinese manufacturing surged more than forecast.
The MSCI Asia Pacific excluding Japan Index climbed 0.3% to 470 as of 11:53 a.m. in Sydney.
Australia’s S&P/ASX 200 Index slid 0.6%, South Korea’s Kospi index added 0.3% and New Zealand’s NZX 50 Index declined 0.7%.
Taiwan’s Taiex Index climbed 0.8% and China’s Shanghai Composite Index added 0.9% as mainland Chinese bourses resumed trading today for the first time since the US Federal Reserve unexpectedly announced 18 September that it needed more evidence of a US economic recovery before paring its economic stimulus programme.
Chinese factory output increased for a second month in September. A preliminary HSBC Holdings Plc and Markit Economics’ purchasing managers index rose to 51.2 after jumping the most since 2010 to 50.1 in August.
Trading on Hong Kong markets was delayed due to a storm and Japan is closed for a holiday.
In corporate news, Chinese automakers were higher with FAW and SAIC Motor rising over 2% each while real-estate developers Shanghai Shimao jumped 4%.
In Seoul, automakers Hyundai Motor and Kia Motors lost nearly 2% each, while tech giant Samsung Electronics fell 1.6%.In Sydney, gold miners were the worst-performers after the yellow metal steadied on Monday following it's 3% drop on Friday. Perseus Mining plunged 15%, Newcrest Mining lost 6.5% and Kingsgate Consolidated shed over 5%.