# Asia markets live: Nikkei 225 drop, China PMI on tap, Ishiba election

> China's CSI 300 jumped 8.48% in its best day since 2008 on a stimulus rally, while Japan's Nikkei 225 fell 4.8% as the yen weakened after Japan's LDP leadership vote. China's official September manufacturing PMI came in at 49.8, above expectations, while the Caixin PMI fell to 49.3.

- Date: 2024-09-29 · published 2024-09-29T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/28545-asia-markets-live-nikkei-225-drop-china-pmi-on-tap-ishiba-election
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

China's stimulus-driven equity rally signals stronger expected demand, while weak manufacturing PMIs show the economy is still contracting; the mixed picture has only a modest effect on feed demand.

## Read by commodity

- USDCNY: neutral
- USDJPY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2026-04-29 | [China’s Yuan Holds Steady As Markets Wait On Fed Signals - Finimize](https://feedsoft.ai/events/19951-china-s-yuan-holds-steady-as-markets-wait-on-fed-signals-finimize.md) | -0.1% | -0.9% |
| USDCNY | 2024-10-07 | [US election, jobs data to pressure China’s yuan as stimulus shores it up: analysts \| South China Morning Post](https://feedsoft.ai/events/11041-us-election-jobs-data-to-pressure-china-s-yuan-as-stimulus-shores-it-up.md) | +0.7% | +1.2% |
| USDCNY | 2023-02-01 | [China’s yuan steadies ahead of Fed decision - Markets - Business Recorder](https://feedsoft.ai/events/37554-china-s-yuan-steadies-ahead-of-fed-decision-markets-business-recorder.md) | +0.5% | +1.7% |
| USDCNY | 2024-11-04 | [Yuan bounces as traders brace for US election volatility - Markets - Business Recorder](https://feedsoft.ai/events/6695-yuan-bounces-as-traders-brace-for-us-election-volatility-markets-business.md) | +0.8% | +2.3% |
| USDCNY | 2024-09-27 | [Australia, NZ dollars energised as China optimism boosts risk, resources - Markets - Business Recorder](https://feedsoft.ai/events/28576-australia-nz-dollars-energised-as-china-optimism-boosts-risk-resources-markets.md) | +0.1% | +1.6% |

## Sources

- cnbc.com: https://www.cnbc.com/2024/09/30/asia-markets-japan-falls-china-pmi.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.