SINGAPORE - Asian shares crept higher on Wednesday after data showed China's economic recovery gathering steam, but a chaotic first US presidential debate between President Donald Trump and Democrat Joe Biden weighed on the mood.
In a confrontational debate marked by constant interruptions from both candidates, Biden pressed Trump over his handling of the coronavirus and Trump responded with aggressive personal attacks. China's factory activity expanded at a faster pace in September, helped by a return to exports growth after several months of shrinking sales, bolstering a steady recovery for the economy as it rebounds from the coronavirus shock.
Beyond Hong Kong, where gains were broad based, stocks in Shanghai rose 0.5 per cent. Australia's ASX 200 slipped 1.6 per cent.PROSPECT OF CONTESTED RESULT The debate did not move the needle in betting markets, which project a narrow Biden victory, and currency markets were broadly steady. Biden said in the closing stages of the debate that he would accept defeat if he lost at the ballot box, while Trump repeated, without evidence, his concerns that mail-in ballots could encourage fraud.