Positive economic news leaves a better impact on Asian markets
The positive news yesterday regarding the Australian and Chinese economy boosts Asian markets. Despite of the skepticism about the expected result for the presidential election did not hinder traders to edged up in Asia. In addition to the favorable release on Thursday, a private gauge were used to assess the activities of China's service sector. According to results, the month of October is considered to be the fastest time period of expansion which indicate the strengthening of the China economy.
The purchasing managers index of Caixin China grew up to 52.4 in October, compared to 52.0 in September. While South Korea’s Kospi SEU gained 0.2% versus -0.17%, Hong Kong’s Hang Seng HSI were able to recover from -0.10% to 0.2% and S&P ASX 200 XJO of Australia made a 0.1% increase against the previous -0.08% .