Hong Kong investors dumped stocks while retail investors scrambled to catch up after returning from a week of holidays. The lack of direct and specific fiscal measures from the top policy committee poured cold water over expectations of more fiscal reforms.

Market indexes in Tokyo advanced for the third day in a row as the yen dropped to a five-week low, prompting the Japanese official to issue a verbal warning against excessive speculation.

Japan indexes extended weekly gains to 1.5% as fears of an imminent rate hike receded. The yen drifted lower after the unexpected comments from the newly appointed prime minister supported a gradual increase in interest rates. Shipping companies plunged nearly 10% amid rising violence in the Middle East.

Hong Kong market indexes extended gains for the third week in a row as the stimulus rally remained popular with retail and institutional investors.

Japan market indexes rebounded and the yen dropped to a one-month low following comments from the recently appointed prime minister Shigeru Ishiba.

Hong Kong indexes plunged as much as 4% as a six-day market rally ran out of steam. Investors are still holding out for significant fiscal stimulus measures over the next two weeks. 

Investors turned cautious in Tokyo following the rising tensions in the Middle East as the prospects of a wider war in the region escalated. Japan's Diet elected Shigeru Ishiba as the next prime minister, and the newly elected prime minister called for an early election on October 27. 



The stock market rally in Hong Kong extended to the sixth day in a row as market euphoria attracted more investors. China's electric vehicle sales surged 43% to one million units in September, increasing their market share to 54% of all deliveries. 

Stocks in Tokyo rebounded after calmness returned to trading following the easing of the yen. Japan's expected next prime minister, Ishiba, in the past had advocated expanding taxes on financial income and supported a more hawkish monetary policy approach. 

The Liberal Democratic Party president Shigeru Ishiba is expected to dissolve the lower house of the Diet and announced a general election on October 27.

Investors bid up stocks ahead of the start of the National Holiday, and three southern cities in China relaxed curbs on buying properties.

Tokyo's overall and core inflation decreased in September and dropped near the target level set by the Bank of Japan, easing pressure on policymakers to lift rates in the near future. The yen weakened 1% after the release of inflation data. 

Stock market indexes in Hong Kong and mainland China soared for the fourth consecutive day, extended weekly gains, and rebounded more than 20% from the lows reached nearly three months ago. 

Benchmark indexes in Tokyo jumped, following a sharp rally in semiconductor and related stocks. The yen held steady after the latest policy meeting minutes indicated committee members worried about rising inflation risks and preferred a gradual approach to increasing interest rates.



Benchmark indexes in mainland China and Hong Kong extended the stimulus rally to the third consecutive day amid growing confidence in Beijing's leadership's commitment to revive flagging economic growth.