Asian stocks ended mixed on Friday, with Japan’s Nikkei reaching a record high due to a weaker yen and strong gains in the tech sector. Chinese and Hong Kong markets fell after China’s factory activity shrank for a seventh consecutive month in October. Easing U.S.-China tensions and positive earnings from companies like Amazon and Apple helped limit losses. The Shanghai Composite dropped 0.81%, with manufacturing activity contracting more than expected. In contrast, Japan’s markets surged to record levels, driven by optimism over AI and potential fiscal stimulus measures.

In China, the official manufacturing PMI hit a six-month low of 49.0 in October, while the non-manufacturing PMI edged up to 50.1. Hong Kong’s Hang Seng index fell 1.43% after electric-vehicle maker BYD reported lower earnings. Japanese stocks saw Tokyo Electron, Advantest, Hitachi, and Socionext posting gains. Seoul’s Kospi set a new record high on optimism over AI chip supplies from Nvidia to Korean companies. Australia’s markets ended slightly lower, with Wesfarmers and JB Hi-Fi among the top losers. New Zealand’s S&P/NZX-50 index closed at its highest level in three weeks.

Gold prices dipped in Asian trading as the dollar rose, while oil traded lower on supply glut concerns. U.S. stocks ended lower, with the Nasdaq Composite dropping 1.6% on fears over increased AI spending. President Trump’s tariff deal with China had little impact on investor sentiment, with the S&P 500 and Dow also closing in negative territory.

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