Singapore’s manufacturing output rose 1.2% year on year, missing Reuters’ expectations of a 2.2% rise, according to LSEG data. The figure compares to a 9.8% increase in September.

In the U.S., a rally in stocks propelled the Dow Jones Industrial Average, S&P 500, and the Russell 2000 index to reach new highs on Monday as investors cheered Trump’s decision to nominate Scott Bessent, the founder of Key Square Group.

The blue-chip Dow rose 440.06 points, or 0.99%, to 44,736.57. The broad S&P 500 gained 0.3% to end at 5,987.37. Both hit new all-time highs in the session, while the Dow also notched a fresh record close. The Nasdaq Composite ticked up 0.27%, finishing the day at 19,054.84.

—CNBC’s Alex Harring and Hakyung Kim contributed to this report.