China’s manufacturing activity expanded less than forecast in October, a private survey showed, adding to worrying signs about the economy’s momentum as the year winds down.
Asian stocks rose on Monday as the US-China trade truce and surging investment in artificial intelligence (AI) buoyed risk sentiment, while the dollar firmed to a three-month high on easing rate cut wagers after hawkish comments from policymakers.
India’s sweeping consumption tax cut drove shoppers to splurge on items from cars to kitchenware during the month-long festival season, boosting the economy that was slammed with a 50% import levy by the US.
Malaysia’s factory activity slowed further in October amid renewed decline in order volumes though manufacturers grew more optimistic of better demand ahead.
This month, the natural rubber prices experienced a fluctuating trend due to several factors, including constrained supply and improving demand. Seasonal factors boosted consumption, particularly in China, where inventory reductions at major ports indicated improved demand. However, the rainfall and labor shortages in producing regions limited tapping activities, tightening supply.
Oil prices rose in Asian trade on Monday after the OPEC+ agreed to halt its ongoing production hikes in the next quarter amid concerns over a looming supply glut.