Asian equities head north

Asian equities head north

On Wednesday, Asian stocks reported solid revenues because regional PMIs were mixed with market sentiment still positive as earnings season regionally attracts attention.

The Nikkei 225 edged up 1.42%, Australia's S&P/ASX 200 tacked on 0.46%. Meanwhile, in China, the Shanghai Composite managed to grow 0.18%, while the Hang Seng index rallied 0.58%.

On Tuesday, Sony updated upwards its full-year revenue for the fiscal year by March 31, 2018. As the Japanese conglomerate informed, it actually expects full-year operating profit to hit 630 billion yen, which is greatly above Reuters’ estimate of 585.8 billion yen.

October’s Caixin/Markit manufacturing PMI reached 51.0 staying intact from September.

Australia’s AIG Manufacturing index demonstrated 51.1 versus last outcome of 54.2. As for Japan's manufacturing PMI, it went up to 62.8 versus an outcome of 52.5 observed.

Overnight, traders’ appetite for risky assets revived following evident signs of underlying strength in the American economy after data disclosed that consumer confidence inched up to an almost 17-year maximum ahead of the Fed’s interest rate decision.

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