Asia markets: Yen firms, Nikkei gains as oil slips
Oil slips, yen firms, Nikkei up 1.0% despite weak data; Australian CPI rises 4.0%, China PMIs beat.
Oil slips, yen firms, Nikkei up 1.0% despite weak data; Australian CPI rises 4.0%, China PMIs beat.
China's September manufacturing PMI rose to 52.1, beating expectations, while services also exceeded forecasts.
China's official manufacturing PMI met expectations at 50.1 in September, while non-manufacturing and composite readings also improved.
Reuters expects the PBOC to set the USD/CNY midpoint at 6.7025, with recent fixings showing Beijing has eased resistance to yuan gains.
China's official manufacturing PMI is expected to rise above 50 in September, while private-sector surveys show a mixed picture ahead of the holiday.
Chinese PMIs and Australian CPI lead Asia's economic calendar on September 30.
China's industrial profits rose 4.2% in August, while AI-driven growth boosted rival economies much faster.
China's industrial profits rose 4.2% in August from a year earlier, the weakest monthly gain this year, as the year-to-date rate eased to 15.7%.
China and the US agreed to establish a trade council and extend their tariff truce until January 2027.
China may let Alibaba and ByteDance buy a new Nvidia chip, a report says. NVDA stock closed at $225.07 and awaits Monday's open.
Xi Jinping said the US-China relationship will be based on respect, fairness and reciprocity, and agreed with Trump to add new substance.
US and China reach agreement on a subset of goods for trade; details to be released Monday.
The Trump-Xi summit extended the US-China trade truce by two months but failed to resolve disputes over rare earths, technology, and Taiwan.
China's Mid-Autumn and National Day holidays thin Asian markets, heightening volatility risks.
The US-China trade truce was extended by two months to January 10, but tariffs, farm purchases, rare earths, and Taiwan remain unresolved.