Shares in Asia-Pacific rose on Wednesday, as tensions appeared to ease between Russia and Ukraine, boosting markets. Meanwhile, investors reacted to weaker-than-expected Chinese inflation data.
In Japan, the Nikkei 225 index recovered from the recent negative trend, ballooning 595.21 points, or 2.2%, to 27,460.40.
The Japanese yen traded at 115.63 per U.S. dollar, still weaker than levels below 115.2 seen against the greenback earlier this week.
In Hong Kong, the Hang Seng Index regained 363.19 points, or 1.5%, to 24,718.90.
Russia’s government announced Tuesday that Moscow is starting to return some troops at the Ukrainian border, though NATO’s chief warned that the military alliance has so far "not seen any sign of de-escalation on the ground from the Russian side."
The Australian dollar was at $0.7168, holding on to gains after bouncing from below $0.71 earlier in the week.
CHINA
In Shanghai, the CSI 300 added 17.89 points, or 0.4%, to 4,617.99
China’s consumer price index for January rose 0.9% as compared with a year ago, slightly lower than expectations for a 1.0% increase.
Chinese producer inflation for January was also below expectations. The producer price index for January rose 9.1% as compared with a year earlier, against expectations for a 9.5% increase.
In other markets
In Singapore, the Straits Times index grew 17.92 points, or 0.5%, to 3,439.30
In Korea, the Kospi index changed gears and gained 53.14 points, or 2%, to 2,729.68.
In Taiwan, the Taiex index hiked 279.66 points, or 1.6%, to 18,231/47
In New Zealand, the NZX 50 revived 183.57 points, or 1.5%, to 12,121.89.
In Australia, the ASX 200 spiked 78 points, or 1.1%, to 7,284.93.
