The House committee, in a bipartisan effort to address economic competition between the United States and China, expressed the need for congressional action to impose restrictions on American investments in Chinese companies, including those involved in artificial intelligence.

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Despite China's Manufacturing Growth, Asia-Pacific Stocks Decline

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Asia-Pacific stock markets experienced a decline, even as China's manufacturing sector showed signs of expansion for the first time in six months.

Official data released over the weekend indicated that China's factory activity in September saw growth, marking the first expansion since April. China's Purchasing Managers' Index (PMI) rose to 50.2 in September, surpassing Reuters' expectations of 50.0 and exceeding the previous reading of 49.7.

Notably, Chinese markets remained closed for the weeklong Golden Week holiday, with South Korean and Hong Kong markets also observing holiday closures.

In Japan, the Nikkei 225 index registered a 0.31% decline, closing at 31,759.88, while the Topix index slipped 0.39% to conclude at 2,314.

The sentiment among Japan's major manufacturers improved in the third quarter, achieving a score of 9, up from the previous three months' score of 5, as indicated by the closely-watched central bank Tankan survey.

Australia's S&P/ASX 200 index experienced a 0.22% decrease, concluding at 7,033.2.

In the United States, the three major indexes showed mixed performance on Friday. The Dow and S&P 500 both closed lower, declining by 0.5% and 0.3%, respectively, concluding a negative week for these two indexes. Conversely, the Nasdaq Composite index closed with a slight gain of 0.1%.

Over the weekend, U.S. lawmakers successfully reached a temporary agreement, averting a government shutdown."


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