Japan expects higher government revenue from faster BOJ ETF sales
The Bank of Japan will raise annual ETF sales to 860 billion yen from January, up from 330 billion yen.
China's manufacturing PMI falls to 49.3 as demand weakens
Services and construction also slipped into contraction in October, while some technology-linked manufacturers recorded stronger activity.
China's manufacturing sector contracted in October for the third time in four months, government figures published October 31 showed. The National Bureau of Statistics put the official manufacturing purchasing managers' index at 49.3, down from September's 50.1 and below a poll forecast of 50.0.
Readings below 50 indicate contraction, while those above that level signal expansion. The non-manufacturing index, covering construction and services, declined to 49.7 after reaching 50.2 in September.
Demand weakened both domestically and abroad. Christmas export orders eased after being brought forward into September, while a holiday-driven increase in consumer spending faded after early October. Measures of overall new orders and export orders remained below 50. Production and purchasing shifted from expansion to contraction.
Zhang Liqun, an analyst with the China Federation of Logistics & Purchasing, said inadequate demand was adding pressure on the economy and urged policymakers to strengthen their response.
Some manufacturing industries performed better: production and new-order readings reached at least 53.0 in railway, shipbuilding and aerospace equipment, as well as computer, communications and electronics manufacturing.
Company results also showed contrasting performances. Zhongji Innolight, which makes optical modules connecting servers and switches in AI data centers, reported that third-quarter net profit nearly tripled. Custom furniture manufacturer Oppein Home recorded an 80% fall in quarterly net profit.