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China's factory activity data misses expectations; Asia-Pacific markets mostly higher - CNBC
Nov 30, 2022 1 min, 7 secs

Asia-Pacific shares were mostly higher on Wednesday as the reading for China's November factory activity fell short of expectations, dropping to the lowest reading since April 2022.

Hong Kong's Hang Seng index briefly rose 2% in its final hour of trade, with the Hang Seng Tech index trading 2.66% higher.

In Australia, the S&P/ASX 200 pared earlier losses and traded 0.43% higher after its monthly inflation indicator showed some slowing for October, and closed at 7,284.20.

The MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.18%.

Australia's consumer price index for October slowed to 6.9% on an annualized basis, from 7.3% in September, according to a monthly indicator by the Australian Bureau of Statistics.

That's lower than the expectations of analysts polled by Reuters, who predicted a reading of 49.

South Korea and Japan's industrial production each saw declines for the month of October.

Japan's preliminary industrial production for October declined 2.6% compared to a month ago, more than expectations of a decline of 1.5%, according to a Reuters poll.

The reading marks the second consecutive decline after seeing a fall of 1.7% the previous month.

South Korea's industrial production also fell by 3.5% compared with a month ago, also lower than expectations of a decline of 1%.

That's slightly lower than the reading of 49.2 reported in October.

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