Economics
Asian Currencies Trade Near Eight-Month High on Recovery Signs
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Asian currencies traded near an eight-month high after data showed manufacturing picked up in China and India and South Korea’s exports rose for the first time in four months.
China’s purchasing manager’s index climbed to 50.2 in October from 49.8 in September, according to official figures released today. A reading above 50 signals expansion. A similar gauge in India rose to 52.9 from 52.8, according to a report from HSBC Holdings Plc and Markit Economics. Korea’s overseas shipments rose 1.2 percent from a year earlier after a revised 2 percent drop in September, a separate statement showed.