Asian shares get closer to 10-year maximum

Asian shares get closer to 10-year maximum

On Thursday, Asian equities rallied to near decade maximums, participating in a global equities soar, while the evergreen buck resumed its ascend on the back of a spike in American yields.

There was a minor market reaction to China’s data, which showed that its economic surge cooled a bit to 6.8% during the third quarter year-on-year versus the second quarter's outcome of 6.9% that had been widely forecast.

A moderate loss of momentum had been anticipated because the Chinese government actually tames the heated property market and also cracks down on riskier lending.

Other data disclosed that China's industrial output went up a stronger-than-anticipated 6.6% in September. Meanwhile, retail sales also demonstrated a decent outcome, although investment surge relieved more than anticipated and property sales went down for the first time for two years.

MSCI's index of Asia-Pacific equities grew 0.2%, approaching a 10-year maximum scaled on Tuesday.

Japan's Nikkei N225 rallied 0.6%, showing a fresh 21-year maximum, while South Korea's KOSPI also conquered a historical peak.

As for Shanghai SSEC, it bucked the trend, diving 0.3%.


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