China stocks rise on better-than-expected PMI data amid broad declines in Asia markets

Japan should finance any additional spending plans within existing budget, rather than issue new debt, Krishna Srinivasan, director at the International Monetary Fund's Asia and Pacific Department told Reuters in an interview . 'Any kind of support you're providing should be a lot more targeted, and any kind of new initiative should be financed within the budget,' Srinivasan said, 'you should not be increasing more debt to provide for any new initiative.

' Japanese Prime Minister Shigeru Ishiba, who took the helm on Oct. 1, has pledged to compile a large-scale spending package to support households struggling with rising living costs. The relief packages were vowed at a time when the Bank of Japan raised interest rates, adding to the cost of funding for Japan's public debt, which already stands at double the size of its economy .

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Japan's Nikkei 225 leads losses in Asia; China stocks cheer better-than-expected PMI dataAsian traders assess third-quarter producer prices data from Australia and Caixin China manufacturing purchasing managers’ index reading for October.
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Stock market today: Asian shares rise after Wall Street rally, and China promises a briefingAsian shares are mostly higher, as market optimism got a perk from the record highs set on Wall Street.
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