Asian stocks snapped the day’s trade mostly in the negative terrain on Thursday after data showed inflation in China was heating up again, complicating efforts by Beijing to stimulate the world’s No. 2 economy. But the losses remained capped as investors bet on a positive outcome to Greek reform talks needed for a fresh bailout.
Japanese Nikkei pulled back from a three-month high and ended with a cut of over half a percent on Thursday after Japanese core machinery orders for December 2011 fell by 7.1 percent on a seasonally adjusted basis. The figure, which excludes the volatile shipping and electric power industries, marked a downturn from a 14.8 percent expansion in November. Hong Kong shares ended with marginal cut after stronger than expected Chinese inflation data. Investor sentiments hit a hurdle after China released data showing consumer prices had risen 4.5 percent in January over a year earlier, up from the previous month’s 4.1 percent. Food prices jumped 10.5 percent, driven by a 25 percent gain in the cost of pork, the staple meat in China. However, Chinese shares ended flat, with strength in property developers outweighing losses in financial and resources sectors.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,349.59 | 2.06 | 0.09 |
Hang Seng | 21,010.01 | -8.45 | -0.04 |
Jakarta Composite | 3,978.99 | -9.71 | -0.24 |
Nikkei 225 | 9,002.24 | -13.35 | -0.15 |
Straits Times | 2,981.17 | -1.03 | -0.03 |
Seoul Composite | 2014.62 | 10.89 | 0.54 |
Taiwan Weighted | 7,910.78 | 40.87 | 0.52 |
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