ASIA-PAC MARKET WRAP: Asia stocks traded mostly higher after Wall St's fresh records, with ASX 200 the outperformer on gains in materials amid strong Rio Tinto Q3 iron ore shipments

Asia equity markets eventually traded mostly higher following the momentum from their counterparts on Wall St, where all major indices edged fresh record levels once again. The positive lead provided an early bid tone in ASX 200 (+0.8%) which was also led by materials names as Rio Tinto rose to its highest in around 6 years on strong Q3 iron ore shipments, while Nikkei 225 (+0.4%) was also higher but saw some intraday pressure in which participants took heed of a strengthening JPY and booked profits. Elsewhere, Hang Seng (+0.1%) and Shanghai Comp. (+0.1%) were choppy despite a substantial liquidity operation by the PBoC, with participants tentative in the midst of earnings season and ahead of China’s 19th National Congress. Finally, 10yr JGBs were subdued amid a somewhat positive risk tone in Japan and after softer 20yr bond auction results in which the amount sold, b/c and accepted prices all declined from prior.

17 Oct 2017 - 05:45- MetalsResearch Sheet- Source: Newswires

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