Morning business news round-up for Oct 23, 2014

SINGAPORE - Catch up on the morning's top business headlines in Singapore with The Straits Times Money Desk's daily update.

1. Ascott in $560 million tie-up with Australia's largest serviced apartment provider. CapitaLand's serviced residence unit, The Ascott Limited, said it has entered into a strategic partnership with Quest Serviced Apartments which has 112 properties in the country.

2. Chinese manufacturing edges up in October but output at 5-month low. The closely-watched HSBC's China flash Purchasing Managers' Index (PMI) inched up to 50.4 from a final reading of 50.2 in September as firms drew more foreign and domestic orders, but the modest expansion likely won't dispel concerns about the cooling Chinese economy.

3. Sino Grandness rejects claims made by short seller. Sino Grandness Food Industry Group refuted claims made about the company's health in a report that was circulated on the internet.