Asian markets were trading mixed in early deals on Wednesday following the negative cues from Wall Street overnight, as hotter-than-expected US inflation data led to renewed concerns about the outlook for interest rates. The Labor Department said its consumer price index rose by 0.4% in October after climbing by 0.6% in September. Street had expected consumer prices to rise by 0.3%. However, there was some positive sentiment in the markets as crude oil prices fell overnight, with concerns over a potential re-escalation of tensions between the U.S. and Iran easing after US President Donald Trump agreed to maintain the status quo in the US-Iran crisis.
Asian markets were trading mixed; Nikkei 225 surged 835.42 points or 1.38% to 61,295.00, Taiwan Weighted added 980.83 points or 2.24% to 43,692.75, KOSPI increased 106.85 points or 2% to 5,345.98 and Straits Times rose 27.97 points or 0.53% to 5,301.94. However, Jakarta Composite plunged 9.09 points or 0.18% to 5,116.64, Shanghai Composite weakened 8.77 points or 0.24% to 3,654.95 and Hang Seng declined 227.04 points or 0.92% to 24,330.00.