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Daily Scan: Hang Seng climbs 1.34% as Draghi rally reaches new heights

By NexChange
Capital Markets

Updated throughout the day

October 23

Good evening everyone. With Super Mario ready to reload the stimulus bazooka, Asian shares capped the week on a high note Friday. Hong Kong’s Hang Seng Index and Japan’s Nikkei Average both hit their two-month highs today, while China’s Shanghai Composite posted its third week deep in the red. Here’s the score this week:

 
Day
Week

Hang Seng Index
+1.34%
+1.02

Hang Seng China Enterprises Index
+1.34%
+1.79%

Shanghai Composite
+1.30%
+0.68%

Shenzhen Composite
+2.94%
+2.53%

Nikkei 225
+2.11%
+3.06%

Straits Times Index
+1.11%
+1.63%

The European markets meanwhile look set to post their third straight weekly gain. The U.K.’s FTSE 100 has so far climbed 1.32%, while France’s CAC and Germany’s DAX have each jumped 1.30% and 0.69% respectively. As for Wall Street, it seems to be geared up to join the party too, with S&P 500 futures climbing 0.12% at pixel time.

Here’s what else you need to know:

Japan “flash” PMI hits 19-month high. Japan’s manufacturing sector rebounded sharply this month, with the Nikkei Flash Japan Manufacturing PMI coming in at 52.5 – its highest level since March 2014 – versus a 50.5 reading expected by analysts. It also beat September’s final reading of 51. Markit

PNG to resettle Manus Island refugees.  Papua New Guinea (PNG) is to begin resettling refugees from the controversial Manus Island immigration detention center, Australia has said. Australian Immigration Minister Peter Dutton said the move would allow refugees there to "have a fresh start." BBC

South Korea GDP growth rebounds in third quarter. South Korea’s economy picked up pace in the third quarter, helped by rising consumption and construction activity, but weak exports ensured it remained on course for a full-year slowdown worse than official targets. Financial Times (paywall)

Korean families say their final farewells. North and South Korean families were forced to say their last goodbyes on Thursday after meeting for the first time in more than 60 years. On the third and last day of their all-too brief reunion in a North Korean mountain resort, the families were given two hours in the morning to say their last goodbyes. Channel News Asia

UK backs China bid for EU free-trade pact. Britain yesterday threw its weight behind China's effort to reach a free-trade pact with the European Union, as the two countries issued a joint statement during President Xi Jinping's state visit. South China Morning Post (paywall)

Japan, China, South Korea to reinstate annu

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