ASIA-PAC MARKET WRAP: Asia eked modest gains after DJIA's brief surmount of the 23,000 milestone, while China began 19th CPC National Congress

Asia equity markets traded with marginally positive following a similar picture in US where S&P 500, DJIA and Nasdaq 100 extended on record levels, in which the DJIA briefly surmounted the 23,000 milestone for the 1st time ever. The mild momentum from the historical feat in US carried over to Asia which saw ASX 200 (+0.1%) briefly above 5,900 and at its highest in almost 6 months, while Nikkei 225 (+0.1%) also eked minor gains. Hang Seng (Unch) and Shanghai Comp. (+0.3%) were kept afloat after a continued substantial liquidity operation by the PBoC, although upside was capped as focus remained on the 19th CPC National Congress which opened today. Finally, 10yr JGBs were flat amid a lack of drivers and with demand restricted by a mildly positive tone in Japan and a tepid BoJ Rinban announcement for JPY 400bln of JGBs.

18 Oct 2017 - 06:00- Important- Source: Newswires

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