Asian stocks end higher, China benchmark rise 0.55%

Asian stocks ended higher in thin trade on Monday, with Japanese markets closed for a public holiday.

Investors monitored the latest trade developments after the White House released details of a new trade and economic agreement reached between U.S. President Donald Trump and Chinese President Xi Jinping in South Korea.

According to the fact sheet, Beijing agreed to suspend new export controls on rare earth metals and end investigations into U.S. firms in the semiconductor supply chain.

China's Shanghai Composite index rose 0.55 percent to 3,976.52 despite disappointing PMI data, with a private gauge of China's manufacturing activity dropping to 50.6 in October from 51.2 in September.

 

Hong Kong's Hang Seng index jumped 0.97 percent to 26,158.36 after the banking sector's Q3 earnings indicated a stabilization trend.

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