RPT-FOREX-Euro on defensive on political worries, Knowledge Base 7

By Swati Pandey SYDNEY (Reuters) - Asian shares rallied to a decade high on Monday as upbeat Chinese data boosted commodity prices, while the euro extended losses after the Catalan leader failed to give a clear answer to whether or not he declared independence from Spain.

MSCI’s broadest index of Asia-Pacific shares outside Japan gained for a fifth day running to its highest level since late 2007.

Japan’s Nikkei climbed for a sixth day to a level not seen since November 1996. Australian shares extended their winning streak to a fourth straight session to rise 0.6 percent, while South Korea’s stock index set a new record.

European stock futures pointed to a steady start while Dax futures and CAC 40 were a tad firmer.

Commodities also joined the party with copper at a three-year top, underpinned by robust economic data from China, the world’s top user of metals. Figures on Monday showed China’s producer prices beat market expectations to rise 6.9 percent in September from a year earlier.

Prices of iron ore and coke, key ingredients in steel-making, jumped with Dalian iron ore futures, rising 2.5 percent to a 2-1/2 week high while coke for January delivery gained 1.6 percent.



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