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Asia Graphics-Asia-Pacific stocks hit decade highs in October; Japan leads

Published 02/11/2017, 05:08 pm
Updated 02/11/2017, 05:10 pm
© Reuters.  Asia Graphics-Asia-Pacific stocks hit decade highs in October; Japan leads
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Nov 2 (Reuters) - Asian stocks scaled new 10-year peaks in October as strong third quarter results reinforced the region's equities rally.

MSCI's broadest index of Asia-Pacific shares .MIAP00000PUS surged more than 4 percent in October, its highest since January. The index also posted monthly gains so far this year.

Asian companies' total profits for September quarter beat estimates by 9 percent so far, Thomson Reuters Eikon data showed.

Japanese shares led the monthly gains in the region, followed by India.

Prime Minister Shinzo Abe's reelection bolstered Japan equities in the month, while Indian shares got a boost from higher earnings of blue-chip companies such as Reliance Industries RELI.NS and Tata Consultancy Services TCS.NS in the September quarter. $32 billion plan to recapitalise its state-run banks also spurred the banking stocks and helped its main indexes .NSEI .BSESN reach record highs last month. markets performance Oct 2017: http://reut.rs/2z1P0M5

Asia-Pacific markets performance 2017: http://reut.rs/2h38p8q

Asia-Pacific equities valuations: http://reut.rs/2z52hDw

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