China data lifts Asian stocks but caution returns after chaotic debate

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Asian shares crept higher on Wednesday after data showed China's economic recovery gathering steam, but a chaotic first U.S. presidential debate between President Donald Trump and Democrat Joe Biden weighed on the mood.

were volatile, and gave up gains as large as 0.7% to trade 0.5% lower for the day after President Donald Trump again cast doubt on whether he would accept the election's outcome.The first face-off between Trump and Biden was seen by some political analysts as Trump’s best chance to upend a race where he has lagged in the polls.

“Right now, it looks like an even split between Trump and Biden, so it is difficult for the markets to move,” said Ayako Sera, market strategist at Sumitomo Mitsui Trust Bank in Tokyo. China’s factory activity expanded at a faster pace in September, helped by a return to exports growth after several months of shrinking sales, bolstering a steady recovery for the economy as it rebounds from the coronavirus shock.

A separate private survey, also released on Wednesday, painted a similar picture of the manufacturing sector gaining momentum with new export orders posting their biggest rise in three years.rose 0.5%. Australia's ASX 200 slipped 1.6%.PROSPECT OF CONTESTED RESULT

 

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