This uptick was supported by data indicating that China's economy grew by 4.6% year-on-year in the third quarter, aligning with expectations.

Overall, Chinese stocks experienced modest gains, with major indexes rising between 0.2% and 0.3% amid fluctuating trading conditions.

In contrast, Hong Kong's Hang Seng index fell by 1.57 percent to 20,478.46, primarily due to declines in tech stocks and anticipation of upcoming earnings reports.

Meanwhile, the S&P 500 achieved its longest winning streak of 2024, closing its sixth consecutive week of gains, with a 0.4 percent increase to a record high of 5,864.67.

This positive momentum in U.S. stocks was driven by economic optimism, particularly following encouraging subscriber growth news from Netflix.

Positive economic data has raised hopes for a smooth recovery from inflation, with expectations that the Federal Reserve may lower interest rates in November.

Looking ahead, the upcoming general elections in Japan and a Bank of Japan meeting at the end of October are anticipated to influence market sentiment.

Chinese markets saw slight gains following a recent interest rate cut by the People's Bank of China, with the Shanghai Composite index rising by 0.20 percent to close at 3,268.11.

Oil prices have seen a slight recovery after a significant drop last week, with U.S. benchmark crude rising to $69.21 per barrel amid easing concerns about potential Israeli strikes on Iranian oil facilities.

However, U.S. stock benchmarks faced pressure from rising Treasury yields and uncertainty surrounding the upcoming earnings season.

Market volatility persists due to concerns over geopolitical tensions in the Middle East and Europe, along with uncertainty related to the U.S. presidential election.

Despite the rate cuts in China, market sentiment remains weak, as noted by analysts who highlight ongoing weak demand.