Asia Ends Higher, M&A Buzz Lifts Australian Shares

This is a transcript of top stories presented by China's CCTV Business Channel as produced by CNBC Asia Pacific.

Good evening, I'm Saijal Patel from CNBC and you're watching “Asia Market Daily”.

It's been a great start to the week for most Asian markets, the majority of bourses heading higher, after the G20 meeting ended fairly positively over the weekend.

The Shanghai Composite led the gains, jumping 2.5 percent, the KOSPI climbed 1 percent - while the Taiex gained 1.7 percent.

But Japan's Nikkei bucked the trend, easing by almost 0.3 percent.

Japan's exporters were in focus, with data showing exports rose a better than expected 14.4 percent in September from a year earlier.

But export growth has now eased for seven months in a row - on the back of a slow recovery in the U.S and Europe, and also a strong yen.

Across to China, Vanke shares were stronger in late trade - after the country's largest property developer reported a 6 percent rise in third quarter net profit yesterday.

Meantime, the Aussie market jumped 1.3 percent, to a five month high - boosted an $8.4 billion dollar takeover from the Singapore Exchange.

Shares in the ASX surged just over 19 percent - while SGX shares retreated, on concerns the deal is too expensive.

In the first major consolidation of exchanges in the Asia-Pacific region, the SGX has offered a combination of cash and shares, valuing ASX shares at A$48 a 37 percent premium to Friday's last traded price.

If approved by regulators, the tie up will create the world's fifth largest listed exchange operator.

(SOT) Magnus Bocker, CEO, SGX:

“So what is all this about? Well I think it's a question of grasping that growth. In 2020, in less than ten years from now, nearly half the global GDP will be in Asia Pacific. It's an opportunity we cannot let go, to be here acting ahead of time. Combined we will have a much stronger opportunity to grow the derivative franchise. And if you look into it on a daily basis, we will be a combined organization with over half a million contracts on the derivative side traded every day. And of course that will enable the new company to offer more services, to have much more product development and in that, become more and more of a price discovery.”

And in a First on CNBC interview, Seck Wai Kwong, CFO of the Singapore Exchange said the deal gives investors - and companies planning to list - a significant pool of funds to tap into.

He also dismissed analysts' views that the offer was overpriced.

(SOT) Seck Wai Kwong, CFO, Singapore Exchange:

“As you can imagine, most combinations always have to be delicately balanced. We believe that we have offered a fair price for the Australian Securities Exchange.”

On to the currency debate and finance ministers at the G20 meeting in South Korea managed to make some headway over the weekend.

The world's 20 largest economies agreed on several issues. But they've also left plenty to be resolved, at the Leader's Summit in Seoul next month.

SBS-CNBC's Rhie Young Lim reports.

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The curtains to the G20 Gyeongju Summit opened with much doubt as tensions over the currency spat escalated, with recent intervention moves by Japan, Brazil and the Swiss Bank. But the G-20 finance ministers and central bank chiefs meeting ended on a higher note, with much hope for the Seoul Summit in November.

(SOT) Christiane Lagarde, Finance Minister of France:

"We came with much appreciation but am leaving Gyeongju with much expectation for the Seoul Summit."

One of the most noticeable achievements at this meeting was the IMF Quota Reform, giving a bigger voice to the emerging economies.

(SOT) Dominique Strauss-Kahn, MD, IMF:

"Today has been decided by a g20 to propose to the IMF board, a reform both of the quota and the board, which is a historic decision which recreates the total legitimacy of the institution."

European countries will give up two of their 8 seats on the 24-member board. Plus, Over 6 percent of the IMF voting power will be transferred to underrepresented countries at the Fund, which exceeds the previous target of 5 percent discussed in Pittsburg.

As for the much heated currency issue, countries vowed to avoid "competitive devaluation" of their currencies and move towards market-determined exchange rates that reflect the economic fundamentals.

(SOT) Yoon Jeung-hyun, Finance Minister of South Korea:

"We've played a great role in eradicating uncertainties and instabilities. This will terminate the currency dispute."

(SOT) Timothy Geithner, U.S. Treasury Secretary:

"We've agreed that it's important to limit the overall level of external imbalances across the economy."

But no specific targets were announced on reducing trade imbalances. And the closing communiqué contained no major policy initiatives after the U.S. proposal of limiting current account imbalances to 4 percent of the GDP.

Despite achievements such as the IMF quota, there are still concerns as to whether countries can reach a concrete agreement on the currency issue at the G20 Seoul Summit.

Rhie-young Lim SBS-CNBC.

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But in a First on CNBC interview, Lord Levene of Lloyd's said no matter how hard politicians try, they won't be able to control the forex market.

(SOT) Lord Peter Levene, Chairman of Lloyd's:

“You can't just decree what's going to happen. The market, as we all know today, with globalization is a huge instrument in itself and you can have the most powerful ministers or Presidents deciding what they're going to do, but it doesn't always work out the way they'd like it to. Of course their decisions are very important inputs to the market, but at the end of the day the market is the market is the market and if they don't like it or they don't believe it or they think there are other factors coming in that affect it, they're going to do what they believe is right. Not what they believe it right, but what they believe reflects those underlying issues, rather than just do what individual governments would like them to do.”

In other news, a senior Airbus executive predicts fast trains will dampen flight growth in China, cutting it by 15 percent in the next two decades.

But China is still expected to be a leader in worldwide flight growth per capita thanks to a booming middle class, and rapid urbanization.

And finally, the 2010 Shanghai World Expo has attracted a record-breaking crowd and that's even before the six-month long event wraps up.

With a week to go before it closes, a staggering 70 million people have already poured through its doors.

That beats the previous record - made way back in 1970 - at the Osaka World Expo in Japan.

And if that doesn't put it into context it's more than 10-times the number of visitors who went to the 2008 Beijing Olympics.

That wraps up today's Asia Market Daily.

I'm Saijal Patel from CNBC, have a great night.All Rights Reserved. A Division of NBC Universal.