Asia Markets Rise as China Prices Shrink Faster Than Expected

Most Asia-Pacific markets rose after two consecutive days of declines, while China's consumer prices shrank faster than expected in October. South Korea stocks ended marginally higher, Hong Kong's Hang Seng index dipped, Japan's Nikkei 225 and Australia's S&P/ASX 200 closed higher. China's consumer price index slipped 0.2% YoY, more than expected, highlighting the need for further policy support. Country Garden shares plunged in volatile trading after reports of a rescue by Ping An Insurance Group were denied. Morgan Stanley suggests now is a good time to buy gold stocks, and BNP Paribas highlights fallen angels in the US bond market as an opportunity for investors. Stock pickers outperformed benchmarks in October, but allocations to active funds decreased. Mortgage rates saw the largest weekly drop in over a year, and gasoline futures fell to their lowest price since last Christmas as the energy complex weakened.