Asian markets settled mostly lower on Wednesday tracking weakness in US stocks overnight after data showed producer prices increased solidly in October, suggesting high inflation could persist for a while. Meanwhile, latest data from China showed that the country's factory gate inflation hit a 26-year high in October and consumer price rises also quickened. Investors are awaiting highly anticipated US consumer inflation data due out later in the day. Chinese shares ended lower after Chinese property developer Fantasia Holdings said that it has received notices from certain lenders seeking repayment of loans that aren't due. Seoul shares declined amid concerns that rising price pressures may force the US Federal reserve to raise interest rates sooner than expected. Japanese shares fell despite hopes that Kishida's government will launch a fresh round of stimulus measures to prop up the economy.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,492.46 | -14.54 | -0.41 |
Hang Seng | 24,996.14 | 183.01 | 0.74 |
Jakarta Composite | 6,683.14 | 13.21 | 0.20 |
KLSE Composite | 1,520.74 | -3.29 | -0.22 |
Nikkei 225 | 29,106.78 | -178.68 | -0.61 |
Straits Times | 3,231.32 | -12.10 | -0.37 |
KOSPI Composite | 2,930.17 | -32.29 | -1.09 |
Taiwan Weighted | 17,559.65 | 18.29 | 0.10 |
