
APAC starts mixed as China PMI, RBA meeting in focus

Asia-Pacific markets traded mixed on Monday as investors awaited new data on China’s manufacturing activity and the Reserve Bank of Australia (RBA) began its two-day policy meeting. By 11:40 am AEDT (12:40 am GMT), Australia’s S&P/ASX 200 was down 0.5%, while Japan’s markets remained closed for a public holiday. South Korea’s Kospi 200 rose 1.4%. Attention in the region was focused on China’s latest purchasing managers index (PMI) from RatingDog, due later today. Economists expect a reading of 50.9 for October, down slightly from September’s 51.2. However, official data from the National Bureau of Statistics earlier showed that China’s manufacturing activity contracted to a six-month low of 49.0, suggesting renewed pressure on the world’s second-largest economy. The RBA began its monetary policy meeting today, with markets expecting policymakers to keep rates on hold following hotter-than-expected third-quarter inflation data. Economic data released this morning by the Australian Bureau of Statistics (ABS) showed household spending rose 0.2% in September, slightly below expectations of a 0.3% increase. Meanwhile, building approvals surged 12% to 17,019 dwellings, far exceeding forecasts of a 5.5% rise. Market







