Asia Mixed on Chinese Wholesale Inflation

Stocks in Asia were mixed on Tuesday as a data release showed Chinese producer prices in August falling to their worst year-on-year contraction in three years.

In Tokyo, the Nikkei 225 index continued its hot streak, gaining 73.68 points, or 0.4%, to 21,392.10.

Shares of automaker Nissan Motor jumped 3.7% after the company’s CEO Hiroto Saikawa resigned, effective September 16, following an admission last week that he was improperly overpaid.

The Japanese yen traded at 107.33 per U.S. dollar after weakening from levels below 107.0 in the previous session.

In Hong Kong, the Hang Seng Index inched up 2.28 points to 26,683.68,

The Australian dollar changed hands at $0.6865 after rising from levels below $0.672 last week.


In Shanghai, the CSI 300 dipped 13.69 points, or 0.3%, to 3,959.26

China’s producer price index — a key barometer of corporate profitability — fell 0.8% from a year earlier, according to the National Bureau of Statistics. Still, that was better than expectations of a 0.9% shrinkage year-on-year by analysts.

Its consumer price index rose 2.8% as compared to the previous year in August, above a 2.6% growth forecast by analysts. Food prices soared 10% year-on-year in August, following a 9.1% surge in July. In particular, pork prices in China skyrocketed 46.7% year-on-year in August amid a protracted outbreak of swine fever.

In other markets

In Korea, the Kospi index added 12.53 points, or 0.6%, to 2,032.08

In Taiwan, the Taiex index fell 47.56 points, or 0.4%, to 10,753.58

In Singapore, the Straits Times Index edged up 9.38 points, or 0.3%, to 3,155.71

In New Zealand, the NZX 50 back pedaled 60.34 points, or 0.5%, to 11,142.58

In Australia, the ASX 200 removed 33.91 points, or 0.5%, to 6,614.06