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Asian shares oscillate between gains and losses
by Himanshu Singh on Nov 04, 2013 at 05:36
Asian shares outside Japan oscillated between gains and losses on Monday in morning trade after an increase in a measure of China’s non-manufacturing industries, banking shares declined.
The MSCI Asia Pacific excluding Japan Index added 0.1% to 480 as of 10:18 a.m. in Hong Kong. Japanese markets are closed today.
Australia’s S&P/ASX 200 Index (AS51) advanced 0.1%. Singapore’s Straits Times Index gained 0.2% and Taiwan’s Taiex Index retreated 0.3%.
Hong Kong’s Hang Seng Index added 0.1% and China’s Shanghai Composite gained 0.2%. New Zealand’s NZX 50 Index was little changed. South Korea’s Kospi index dropped 0.4%.
Shares gained after services and manufacturing surveys showed the economy is strengthening. A non-manufacturing Purchasing Managers’ Index rose to the highest level this year in October, a government report showed yesterday.
China Resources Enterprise Ltd., a brewer and retailer with businesses in Hong Kong and mainland China, gained 1.1% in Hong Kong.
Woori Finance Holdings Co. fell 2% after the South Korean lender reported third-quarter profit that missed analyst estimates.
David Jones Ltd. climbed 4.8% in Sydney after brokers from Credit Suisse Group AG to Deutsche Bank AG upgraded recommendations on the retailer’s shares.
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