Asian equities climbed, boosted by a slew of positive headlines from China, while the dollar was steady as the clock ticked down to a tight US US election.
Chinese equity benchmarks rose more than 2% to lead the region’s gains. Japan’s Nikkei 225 jumped following a public holiday, while shares in Australia and South Korea slipped.
The Bloomberg Dollar Spot Index was flat and the 10-year Treasury yield advanced one basis point, while US stock futures were little changed.
After a cautious start to the day, stocks turned higher upon data that showed China’s service activity expanded at the fastest pace since July, and comments from the premier that the country has ample policy room.
Sentiment also got a lift after the nation’s top legislative body reviewed a proposal that aims to reduce the financial burden of local officials.
A greater focus for the week is on the US presidential vote, as polls show Americans narrowly split between Donald Trump and Kamala Harris. The likelihood of a disputed result may drag the vote count out for weeks, spurring a potential rise in volatility.
