Asian shares ease on mixed Chinese data
Most of Asia’s financial markets performed flatly during their early Wednesday trade. Investors’ enthusiasm was dampened ahead of U.S. inflation figures as mixed inflation data from China weighed on sentiment.
Japan’s benchmark index Nikkei plunged 0.25%, while Australia saw a 0.09% decline. South Korea’s KOSPI erased 0.21% even after the country’s gross domestic product recorded an annualized increase of 1.7%. China’s Shanghai Composite advanced 0.13%, completely bucking the downswing.
Yields was also monitored weakly, with the benchmark 10-year Treasury easing from a plunge to secure a one-month low.
Wednesday’s weak trading session was brought about by mixed Chinese data. China ‘s producer price index recorded a 0.2% increase on a monthly basis. Despite this, the index still expanded a total of 1.3% on an annual term.