The biggest Asian stock markets showed no unified dynamics on Monday morning, as market participants were watching the situation in the global economy and assessing the statements of Chinese officials during the XX Congress of the Communist Party of China (CPC).

Asian stock markets today — what’s going on?

China’s economy showed signs of “significant improvement” in the third quarter, Zhao Zhenxin, deputy head of the National Development and Reform Commission, said on the sidelines of the congress.

The Chinese economy was negatively affected in March, April and July by unpredictable factors, including external events, coronavirus outbreaks and extreme weather events. MarketWatch quoted the official as saying. Meanwhile, overall business activity, from industrial production and investment to consumer spending, continued to rise, he added.

It also became known on Monday that the People’s Bank of China injected 500 billion yuan ($69.6 billion) into the financial system within the framework of a program of medium-term lending (MLF). At the same time, the rate on one-year MLF loans was kept at 2.75% per annum, the NBK said in a statement.

Earlier, we reported that U.S. stock indices fell by 1.3-3.1%.