Asian shares climbed on Monday, led by a 2.8 per cent jump in Japan's Nikkei, after reports that the Liberal Democratic Party and the Japan Innovation Party had agreed to form a coalition government, paving the way for the country's first female prime minister. China's economy grew 4.8 per cent year-on-year (YoY) in the third quarter, its slowest in a year but above forecasts, while industrial output rose 6.5 per cent. Persistent weakness in the property sector and modest 3.0 per cent retail sales growth kept pressure on policymakers to consider further stimulus. Markets also looked ahead to US inflation data expected to show core prices steady at 3.1 per cent, reinforcing expectations of Federal Reserve rate cuts this year. Futures are fully pricing in a quarter-point cut this month and another in December. South Korea's Kospi gained 1.0 per cent, China's blue chips rose 0.8 per cent, and MSCI's Asia-Pacific index advanced 1.3 per cent. European and US futures also pointed higher as investors awaited corporate earnings, with S&P 500 profits forecast to rise 8.8 per cent in the third quarter. Attribution: Reuters
