Asia-Pacific stocks rise; China’s September inflation data released
SINGAPORE — Asia-Pacific stocks were mostly higher as investors reacted to the release of China’s inflation data for September.
The Shanghai composite in mainland China fell 0.19% while the Shenzhen component climbed 0.13%.
Producer inflation surged in September, official data showed Thursday. The producer price index for September soared 10.7% as compared with a year ago, slightly above expectations in a Reuters poll for a 10.5% increase.
China’s consumer price index also rose 0.7% in September as compared with a year ago. That was slightly below the 0.9% on-year increase as forecast in a Reuters poll.
Markets in Hong Kong are closed on Thursday for a holiday.
Singapore central bank tightens monetary policy
Official advance estimates also showed Thursday that Singapore’s economy grew 6.5% year-on-year in the third quarter of 2021. That was largely in line with expectations from economists in a Reuters poll, who had expected a 6.6% year-on-year expansion for the third quarter.
Elsewhere, the Nikkei 225 in Japan advanced 0.93% while the Topix index edged 0.28% higher. South Korea’s Kospi gained 1.25%.
In Australia, the S&P/ASX 200 climbed 0.67%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.4% higher.
Currencies and oil
The Japanese yen traded at 113.45 per dollar, weaker than levels below 112.5 seen against the greenback earlier this week. The Australian dollar changed hands at $0.7375, above levels below $0.735 seen yesterday.
Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up 0.17% to $83.32 per barrel. U.S. crude futures gained 0.12% to $80.54 per barrel.