Asia stocks mixed as investors react to China inflation data
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SINGAPORE — Shares in Asia-Pacific were mixed in Wednesday trade as investors reacted to the release of Chinese inflation data for October.
Hong Kong Hang Seng indexChinese shares dropped 0.3%, as did shares in Chinese real estate company Fantasia HoldingsThe stock plummeted more than 48% following the return to trade. Fantasia — whose Hong Kong-listed stock was suspended for more than a month — failed to repay a $206 million bond that matured early October.
As the Chinese mainland stocks fell, so did their prices Shanghai compositeWhile the Shenzhen componentThe drop was 0.287%
Official data Wednesday showed that China’s consumer inflation in October was in line with what had been expected. According to Reuters, the consumer price index rose 1.5% in October compared with last year. This is against what was expected by pollsters who were expecting a 1.4% rise.
However, producer prices rose faster than anticipated. In October, the producer price index rose 13.5% compared to last year. This was higher than expected according to a Reuters poll that predicted a gain of 12.4%.
It Nikkei 225Japan’s Topix index rose 0.13%, but little else was changed in Japan. South Korea KospiThese numbers dropped to 0.61%
Australia shares edged up, as the S&P/ASX 200Increasing 0.12%
MSCI’s Asia-Pacific share index, which is the largest outside of Japan, traded 0.2% lower.
U.S. Inflation Data for October will also be available on Wednesday.
Overnight stateside, the Dow Jones Industrial Average slipped 112.24 points to 36,319.98 while the S&P 500 shed 0.35% to 4,685.25. The Nasdaq Composite fell 0.6% to 15,886.54.
Currencies
It U.S. dollar indexFollowing an earlier jump of around 93.9 to 93.9,, which measures the greenback relative to a basket its peers, stood at 93.974.
It Japanese yenThe dollar traded at 112.86, which was higher than the levels of 113.5 earlier in the week. The Australian dollarFollowing a drop of $0.74, it was $0.737.
— CNBC’s Weizhen Tan contributed to this report.
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