BANGKOK, Nov 3, (AP): Shares advanced Monday in Asia, with South Korea’s market leading gains thanks to strong buying of tech-related shares. Crude prices rose as the United Arab Emirates opened a major oil summit Monday, just after the OPEC+ group of the cartel and its allies announced they would halt planned production increases for early 2026.

US benchmark crude oil picked up 43 cents to $61.41 per barrel. Brent crude, the international standard, added 46 cents to $65.23 per barrel. Japan’s markets were closed for a holiday. South Korea's Kospi jumped 2.8% to 4,221.87, yet another record close. Computer chip maker SK Hynix's shares soared 11%, helped by recent moves to team up with Nvidia in developing the country's artificial intelligence infrastructure and capabilities.

Samsung Electronics, the country's biggest company, gained 3.4%. Chinese markets were more subdued, with Hong Kong's Hang Seng gaining 1.1% to 26,183.60. Gains for technology shares were offset by declines for gold shops like Chow Tai Food Jewellery Group. Its stocks dropped 8.7% after the Chinese government reduced the amount of rebates for taxes on sales of the precious metal.

The rebates have been one factor behind a frenzy of gold purchasing that has helped push its price to record levels recently. However, Chinese buying is just one reason for the rally in gold prices. Many investors have been investing in gold as a hedge against uncertainties and that includes central banks. Early Monday, the price of gold rose nearly 0.8% to $4,028.00 per ounce.

But that's well below its recent record levels of near $4,400 an ounce. A private sector measure of factory activity, the RatingDog China General Manufacturing PMI, showed an overall slowing of manufacturing in China, to 50.6 in October from 51.2 in September. That's on a scale from zero to 100 where 50 marks a level of expansion.

The official PMI reading by the National Bureau of Statistics, released Friday, likewise showed factory activity slowing, to 49 last month from 49.8 in September. The Shanghai Composite index rose 0.5% to 3,973.10. Taiwan's benchmark Taiex picked up 0.4%. There was no immediate or obvious reaction to US President Donald Trump's assertion that Chinese leader Xi Jinping had promised not to take any action against the self-governed island of Taiwan, which Beijing claims as its territory, while Trump is in office.