Shares in Asia were mixed overnight after data showing that Chinese consumer prices slipped back into deflation stoked fresh concerns over the world’s second-largest economy.
Over the weekend Chinese inflation fell 0.7% year-on-year, below the consensus of a 0.4% fall, after a 0.5% decline last month. Core inflation fell 0.1%, the first decline since 2021.
PPI printed at -2.2% against -2.1% expected and -2.3% the previous month. Overall there was likely some distortion due to the timing of Lunar New Year so we’ll get a better read next month.
The Nikkei (^N225) rose 0.4% on the day in Japan, while the Hang Seng (^HSI), which has surged 20% this year to a three-year high, fell 1.9% in Hong Kong.
The Shanghai Composite (000001.SS) was 0.2% down by the end of the session.
There were also losses in Singapore, Taipei, Bangkok and Jakarta, although Tokyo, Sydney, Seoul, Wellington, Mumbai and Manila rose.
Beijing’s tariffs on certain US agricultural goods in retaliation for Donald Trump’s latest hike on Chinese imports came into force this morning.
发表回复