Asia Mixed as China Inflation Data Released

Shares in major Asia-Pacific markets were mixed on Wednesday, as investors reacted to the release of Chinese inflation data.

In Japan, the Nikkei 225 dipped 102.76 points, or 0.4%, to 28,860.80.

The Japanese yen traded at 109.40 per U.S. dollar, weaker than levels around 109.2 seen against the greenback earlier this week.

In Hong Kong, the Hang Seng fell 38.75 points, or 0.1%, to 28,742.63.

Meanwhile, the World Bank on Tuesday upgraded its growth forecast, with the global economy now expected to grow 5.6% in 2021. That compared against an earlier forecast in January for a 4% global economic expansion in 2021.

Still, the organization warned in a Tuesday press release that global output will be about 2% below pre-pandemic projections by the end of this year in spite of the recovery.

The Australian dollar changed hands at $0.7752 following an earlier low of $0.773.

CHINA

In Shanghai, the CSI 300 inched up 4.33 points, or 0.1%, to 5,236.45.

On the economic data front, official data released Thursday showed China’s producer price index for May jumped 9% from a year earlier, against expectations in a Reuters poll for a 8.5% increase. The country’s consumer price index in May rose 1.3% from a year earlier, lower than an expected 1.6% rise.

In other markets

In Singapore, the Straits Times Index dropped 13.67 points, or 0.4%, to 3,153.47

The Kospi index in Korea retreated 31.65 points, or 1%, to 3,216.13

In Taiwan, the Taiex index lost 109.99 points, or 0.6%, to 16,966.22

In New Zealand, the NZX 50 added 48.86 points, or 0.4%, to 12,556.50.

In Australia, the ASX 200 deleted 22.39 points, or 0.3%, to 7,270.20.