Asia report: Bourses in the green at end of red October

In Japan, the Nikkei 225 was up 2.16% at 21,920.46, as the yen weakened 0.11% against the dollar to last trade at JPY 113.25.

The broader Topix was 2.15% higher at 1,646.12 in Tokyo.

On the policy front, the Bank of Japan stood pat on monetary policy on Wednesday, but did take a knife to its price forecasts.

Its short-term interest rate targets remained at -0.1%, with the central bank also promising to guide 10-year government bonds towards a yield of nil.

On the mainland, the Shanghai Composite rose 1.35% to 2,602.78, and the smaller, technology-heavy Shenzhen Composite moved ahead 1.39% to 1,294.22.

The positive moves in China came despite fresh manufacturing data missing forecasts, with the official purchasing managers’ index for October coming in at 50.2.

That was a fall from the 50.8 reported in September, and lower than then 50.6 economists had been widely anticipating.

South Korea’s Kospi was 0.74% higher at 2,029.69, while the Hang Seng Index in Hong Kong managed to rise 1.6% to 24,979.69.

Oil prices were mixed, with Brent crude last down 0.12% at $75.82 per barrel, and West Texas Intermediate rising 0.12% to $66.26.

In Australia, the S&P/ASX 200 added 0.43% to 5,830.30, with the hefty financials subindex rising 0.93%.

Of the big four banks in Sydney, Australia and New Zealand Banking Group was the surprise, adding 1.5% even after it reported a 5% fall in its cash profit for the full financial year.

Looking at the other sectors, energy was up 1.39% and the materials subindex added 0.19%.

Across the Tasman Sea, New Zealand’s S&P/NZX 50 was up 1.2% at 8,752.31, led higher by outdoor clothing and equipment company Kathmandu, which surged 4.3% after a large institutional investor, First NZ Capital, upped its stake in the firm.

Both of the down under dollars were weaker on the greenback, with the Aussie last 0ff 0.26% at AUD 1.4109, and the Kiwi retreating 0.35% to NZD 1.5312.