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Asian equities decline, Shanghai leads the fall

FXStreet (Mumbai) - FXStreet (Mumbai) - The Asian equity markets fell today, taking cues from the weakness in the US Equity markets.

The ASX fell 0.05%, while the Hang Seng declined 0.30%. The Indian equity markets shall open later in the day for a special trading session on the auspicious occasion of Diwali. Meanwhile, the Nikkei and the Kospi ended 0.36% and 0.27% lower respectively. Moreover, the fall in the Asian equities was led by Chinese equity markets which lost 1% today.

The Shanghai composite index fell 1.04% to 2302.45 levels today, despite the HSBC manufacturing PMI index rising to a three month high in October. The market breadth was extremely negative with an advance decline ratio of 157:748. Moreover, the equities weakened as the interest-rate swaps rose for a third day after a strong PMI data erased hopes of more monetary stimulus from the Chinese authorities.

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