**Asian Markets Experience Volatility Amid Economic Data Releases**
Stocks in mainland China surged to their highest point in over a year, with the CSI 300 index rallying 8.48% to close at 4,017.85, marking a nine-day winning streak. This significant gain was driven by healthcare and tech stocks, despite China’s manufacturing sector contracting for the fifth consecutive month. The country’s official purchasing managers’ index (PMI) reading for September came in at 49.8, slightly better than expected.
In contrast, Japan’s Nikkei 225 index plummeted 4.8% to close at 37,919.55, led by losses in real estate stocks. The country’s industrial production dropped 4.9% year on year in August, more than expected, while retail sales climbed 2.8% year on year, beating estimates. The Japanese yen weakened 0.13% against the dollar.
Australia’s S&P/ASX 200 reached an all-time closing high of 8,269.8, up 0.7%, while South Korea’s Kospi fell 2.13% to 2,593.27. Overnight, the US Dow Jones Industrial Average rose to a new high, driven by encouraging August inflation data.
The release of key economic data from China and Japan has led to significant market fluctuations, with investors assessing the implications for the global economy. As markets continue to digest this information, traders will be closely watching for further developments in the coming days.
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