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Daily Scan: Asia ends on a high, oil prices boost global stocks
Updated throughout the day
Good Evening. Asia finished on a high today as climbing oil prices bolstered energy stocks. Hong Kong's Hang Seng Index got a 2.3% boost after China revealed that foreign-exchange reserves fell at a slower pace in September. Japan's Nikkei Stock Average meanwhile held out, gaining 0.8%, even after stocks struggled earlier in the day following the Bank of Japan's decision to keep its policy unchanged. There are still hopes that easing measures will be brought in at the end of the month.
European markets have also been encouraged by rising oil prices, the Stoxx Europe 600 rose 0.3% in early trade while energy shares soared 1.5.%. The brent crude was up nearly 1% to $52.95 a barrel, on expected production cuts in the US and global markets.
Here is what else you need to know:
US orders Bank of China to hand over counterfeit ring data. A New York judge has ordered the Bank of China to hand over detailed information about Chinese bank accounts used by a counterfeiting ring that allegedly sold millions of dollars of fake Gucci handbags and wallets in the United States. South China Morning Post (paywall)
AB InBev makes $104 billion bid for rival brewer. Anheuser-Busch InBev, the world’s largest brewer, launched an improved offer for SABMiller on Wednesday, offering just over 68 billion pounds ($104 billion) for its largest rival to extend its reach into Africa and other markets. South China Morning Post (paywall)
Dollar falls to upper 119 yen zone after BOJ stands pat. Some market players had expected the central bank to decide on additional easing that could weaken the yen. Nikkei
Samsung flags nearly 80% jump in Q3 operating profit. Samsung Electronics Wednesday flagged a nearly 80% jump in its third-quarter operating profit, which analysts put down to a weaker Korean currency and improved sales of televisions and semiconductors. Asia One
IMF warns on worst global growth since financial crisis. The world economy will this year grow at its slowest pace since the global financial crisis, the International Monetary Fund said on Tuesday, with a deep slowdown in China and other emerging economies masking a strengthening recovery in rich countries. The Financial Times (paywall)
Hong Kong panda Ying Ying suffers miscarriage. Giant panda Ying Ying was due to give birth to Hong Kong's first giant panda cub. Doctors at the Ocean Park amusement park said they are very disappointed as they have been trying for four years to get Ying Ying pregnant. BBC
Thailand to push for Asean-level efforts to rein in haze. Thailand has said it will push for Asean-level efforts to rein in the haze that comes from smoke-belching fires in neighbouring countries. Straits Times
MSF demands Afghan war crimes probe.