Article by ForexTime
Two service sector reports from Japan and China accelerated for October.
Caixin’s purchasing managers’ index rose from a 14-month low of 50.5 in September to 52.0, the best score since July.
Coupled with its sibling index for the manufacturing sector, the “composite” index rose to 49.9, marginally below the 50 mark needed to suggest growth and broadly suggestive of the stabilisation story playing out this autumn.
The Nikkei’s comparable reading on Japan also gained, rising from 51.4 in September to 52.2, a two-month high.
Caixin said the China reading was slower that the historical average, but the month to month jump was significant.
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The Nikkei said Japanese business activity in the service sector increased at its second-best level of 2015. However, companies cut back on their staffing levels.
Article by ForexTime
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