The Standing Committee of the People's National Congress commenced its deliberation to decide the size and timing of fiscal measures needed to support the economic growth target rate.

Market indexes in Japan extended the day's losses following a sharp selloff in tech stocks, mirroring losses in Thursday's trading in New York. Panasonic reiterated its annual outlook. Lastertec reported weak quarterly results, and the semiconductor inspection equipment company said it will no longer provide quarterly estimates. 

The Bank of Japan left its key lending rate at 0.25% and adjusted its inflation and economic growth projects over the next three years.

China's manufacturing activities returned to growth in October after contracting for five consecutive months, the official survey showed. China Construction Bank, China Life, and ICBC advanced after the release of their quarterly results.

New home sales from leading developers returned to growth in October, the first monthly increase in 2024, following a raft of monetary measures and the relaxing of property purchase restrictions. 

Japan's indexes extended gains for the third day in a row, powered by gains in tech stocks. Hino Motors plunged 11% after the scandal-hit truck and bus maker reported a loss and offered a weak outlook.

China market indexes turned lower ahead of the key legislative committee meeting next week, which could decide the timing and amount of fiscal measures to support the 5% economic growth target rate. 



Stock market indexes in Tokyo advanced for the second day in a row amid growing policy uncertainty and heightened political instability as leading political parties struggle to form the next government.

China indexes fluctuated around the flatline as investors reviewed the latest earnings from HSBC, WuXi App Tec, and Sinopec. HSBC announced a stock repurchase plan of $3 billion.

Japan's political instability is likely to add another layer of complexity to the Bank of Japan's interest rate normalization plans, as the leading political parties lack enough seats to form a stable government. 

China indexes traded around the flatline after the legislative committee of the National People's Congress set the date to discuss budgetary measures, raising hopes for additional stimulus measures.

Japan is likely to head for post-election chaos as the ruling coalition government scrambles to stem losses in Sunday's national election.

China indexes trimmed weekly losses, and new home bookings in the current week increased for the third week in a row. The stimulus measures from local governments and the People's Bank of China supported the rise in demand.

Japan is likely to head for another chaotic phase after the national election this Sunday, which could force leading parties to make unwieldy coalition to form the next government.



Investors sold stocks in China and Hong Kong for the second day in a row as the prospects of earnings growth in the near future look dim.