China’s trade surplus expanded in October, despite declines in imports and exports. The trade surplus rose to USD17.03 billion last month, compared to USD14.51 billion in September. This figure, however, fell short of analysts’ expectations. Exports declined 7.2 percent from September while imports fell 9.5 percent. Analysts expect China’s full-year trade surplus to come in at about USD160 billion, about 12 percent down from the previous year. Analysts predicted slower growth in exports and imports in coming months.

South Korea’s central bank on Friday held steady on its benchmark interest rate for the fifth straight month. The Bank of Korea held its policy rate at 3.25 percent. Rates have stayed at this level since a 25 basis point increase in June. The Bank of Korea’s monthly statement dropped a previous reference to “greater emphasis” on price stability, suggesting that the central bank may move toward modest rate cuts if concerns about a slowing global economy continue.

India’s factory output declined to its slowest pace in two years in September amid high interest rates and concerns over slowing economic growth in Europe. Output from factories and mines rose 1.9 percent year over year in September, a significant decrease from the 3.5 percent recorded in August. Analysts had expected factory output to increase by 3.7 percent in September. The Reserve Bank of India has raised its lending rate 13 times since March to tamp down inflation. But inflation has remained above 9 percent for the 10 months through September.