China Markets Gain Following Strong Manufacturing Report

Chinese stocks rose on Tuesday, following strong manufacturing PMI. The Shanghai Composite gained 6.6 points, or 0.21 percent to 3107.08. The Shenzhen composite was also up 0.34 percent. The Chinese yuan fell 93 basis points to 6.7734 versus the US dollar.

China's official manufacturing PMI rose to 51.2 in October, versus a reading of 50.4 in September. China's official non-manufacturing purchasing managers' index also increased to 54.0 in October, compared to 53.7 in September. The Caixin manufacturing PMI also rose to 51.2 in October, versus 50.1 in September.

The Bank of Japan is expected to announce its policy decision later in the day.

US stock markets ended mostly lower overnight, with the Dow Jones Industrial Average falling 0.01 percent, to 2,126.15, the S&P500 index dropping 0.31 per cent to 2,126.41, and the Nasdaq Composite slipping 0.02 percent to 5,189.13.

Oil prices traded higher on Tuesday, with the US WTI crude futures on the NYMEX gaining 0.17 percent to trade at $46.94 a barrel.

Top market movers among the Shanghai Composite index are as follows:

• CITIC Securities Co Ltd (600030: SHH) shares gained 1.2 percent to 16.81 CNY.
• China Railway Group Ltd (601390: SHH) rose 1 percent to 8.49 CNY.
• Ping An Insurance Group Co of China Ltd (601318: SHH) 0.9 percent to 34.92 CNY.

• China State Construction Engineering Corp Ltd (601668: SHH) shares down around 0.7 percent to 7.13 CNY.
• China Petroleum & Chemical Corp (600028: SHH) dropped 0.6 percent to 4.98 CNY.
• Kweichow Moutai Co Ltd (600519: SHH) fell 0.6 percent to 316.19 CNY.