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Stock market today: Asian shares are mostly higher after strong earnings boost stocks on Wall St

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Shares are mostly higher in Asia after U.S. stocks rose following better-than-expected profit reports from Morgan Stanley, United Airlines and other big companies.

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China is due to announce its economic growth data for the April-September quarter on Friday. Economists are forecasting annual growth at about 4.5%, short of the government's target of about 5%. “Without announcing a major shift in housing policy stance, the policy measure will not induce massive investment demand in real estate,” the report said. But it added that “The package of credit injection is an effective measure to reduce the financial risks and liquidity crunch faced by the developers and the related supply chains, fending off a subprime crisis in China.”Elsewhere in Asia, South Korea's Kospi slipped 0.2% to 2,606.23 and in Australia the S&P/ASX 200 added 0.

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