Morning note:
India's manufacturing sector activities gained further strength in October as companies scaled up production and stepped up input purchasing in anticipation of further improvements in demand, according to a monthly survey. The October Purchasing Managers’ Index (PMI) data pointed to an improvement in overall operating conditions for the fourth straight month.
The seasonally adjusted IHS Markit India PMI rose from 53.7 in September to 55.9 in October, pointing to the strongest improvement in overall operating conditions since February. – John Xavier
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Asian markets update
Asian stocks were mixed in the morning trade as investors awaited several important central bank meetings that may lead the way for risk appetite heading into 2022.
MSCI’s gauge of Asia-Pacific shares outside Japan recovered early losses to be 0.8% higher, with Japan’s Nikkei edging 0.25% lower and Australia’s S&P/ASX 200 down 0.76%. Hong Kong’s Hang Seng gained 0.97%. South Korea’s Kospi was up 1.59%.
In U.S., the S&P 500 rose 0.18% while the Nasdaq Composite added 0.63%. The Dow Jones Industrial Average gained 0.26%, after surpassing 36,000 points for the first time during intraday trading.
---- Edited by John Xavier
(With inputs from Reuters, PTI and other news agencies.)