China's economy experienced a positive turn as factory activity unexpectedly grew in October, marking a shift after a period of contraction.

The official manufacturing purchasing managers' index (PMI) rose to 50.1, surpassing economists' expectations of 49.9. The non-manufacturing PMI also indicated growth in construction and services, which had remained stable the previous month.

However, analysts warn that the upcoming US elections could have a significant impact on China's growth outlook. The financial markets reflected this uncertainty, with Chinese stocks exhibiting volatility and the offshore yuan remaining stable. China's 10-year government bond yields also held steady at 2.16%.