Asian markets were mixed today (October 8th) ahead of the release of minutes from the US Federal Reserve's latest policy meeting. Chinese stocks stood out, jumping more than three per cent after markets reopened following a three-day holiday.
China's "rally is partly driven by the positive economic data released over the holiday break, such as a slightly better than expected official manufacturing index", Gerry Alfonso, trading director at Shenwan Hongyuan Securities in Beijing, told AP.
"There are also some technical reasons for the rebound as investors are likely to start rebuilding portfolios after reducing positions before the holidays," he said.
Most investors in the region were focusing on the US Federal Reserve's minutes from September's meeting, due to be released later today.
They are looking for more details behind the central bank's decision to keep interest unchanged until further notice, along with clues on the timing of a rate hike.
The Shanghai Composite Index jumped 3.6 per cent to 3,162.21, while Japan's benchmark Nikkei 225 Index edged down 0.8 per cent to 18,169.58. South Korea's Kospi fell 0.1 per cent to 2,003.38., Hong Kong's Hang Seng lost 0.8 per cent to 22,327.06 and Australia's S&P/ASX 200 gained 0.3 percent to 5,212.60.
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