Asian Shares Mixed in Choppy Trade


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Asian stocks were mixed in choppy trade.

HSBC's survey of growth in China's services industry rose to 52.6 in October, higher than last month's figure of 52.4.

Premier Li Keqiang said more stimulus will be difficult due to rising inflation risks but stressed the importance of reform. He also said China needs 7.2% economic growth to generate 10 million jobs, below the government's official 7.5% target.

On Friday, China's Communist Party will start the Third Plenum, a meeting during which it is expected to provide details of economic policy for the next decade.

HSBC's Hong Kong manufacturing Purchasing Managers Index rose to a seven-month high of 50.1 in October from 50.0 in September.

Australia's central bank left rates steady, as expected.

In ADR news, HSBC ( HBC ) gains overnight failed to lift the Hong Kong market.

The Nikkei ended up 0.17% at 14,225.37, the Hang Seng down 0.65% at 23,038.95 and Shanghai up 0.35% at 2,157.24.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities

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