The Shanghai Composite Index rose 0.4% to 3,613 on the first trading day of November, while the Shenzhen Component Index edged down 0.1% to 10,819. Both benchmarks remained near their lowest levels in more than a year, as weak official PMI data highlighted ongoing economic headwinds.
China’s manufacturing PMI fell to a three-month low of 49.3 in October 2026, down from 50.1 in September, as domestic demand softened following the temporary boost from the Golden Week holiday. The non-manufacturing PMI slipped to 49.7 from 50.2, indicating a contraction in services activity for the sixth time this year.
At the same time, Chinese financial regulators reportedly met with banks and securities firms on Monday to discuss additional measures to support the equity market. Any new steps would build on stabilization efforts launched last month, which have so far failed to reverse the downturn amid subdued domestic demand and concerns over AI-related earnings.
In corporate moves, Agricultural Bank of China fell 1.1% and Bank of China lost 1.0%, while CATL gained 1.7% and Wuliangye Yibin advanced 3.4%.
