Australia's third quarter inflation rate stood at 5.4%, slightly higher than the 5.3% expected. The reading will give clues to the country's central bank moves when it meets on Nov 3.
China on Tuesday took steps toward easing financing conditions for local governments , which have been at the crux of recent economic difficulties. The central government said it formalized a process allowing local governments to borrow funds for the year ahead — starting in the preceding fourth quarter, according to an announcement published by state media.
was not able to independently confirm the report. Futures for China stocks were up across the board, with that of Hong Kong-traded stocks up by about 2.5% or more as of Tuesday evening, according to Wind Information data. — Evelyn Cheng
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