Asia Market Action: equities are making headway
Asia Market Action: equities are making headway, taking the baton from a firmer Wall Street. The Nikkei 225 is 1.4% higher and Hong Kong's Hang Seng is up 1.0%. China's CSI 300 is only 0.2% in the green. China's official manufacturing PMI slid by more than expected to 50.2 in October from 50.8 in September. In other economic data, South Korea's industrial production fell 8.4% y/y in September after a 2.5% gain in August, leaving a larger than anticipated drop. Japan's industrial production contracted a preliminary 1.1% m/m in September, undershooting projections after the final 0.2% rise in August. Australia's CPI grew 0.4% in Q3 (q/q) after the matching 0.4% gain in Q2, coming in under expectations. CPI slowed to a 1.9% y/y pace in Q3 that was expected from 2.1% in Q2.