Cryptocurrency NewsTop News

Asian Stocks Mixed After Disappointing Chinese Inflation Data




imageStock Markets9 hours ago (Jun 09, 2020 10:57PM ET)
image

(C) Reuters.

By Gina Lee

Investing.com – Asian stocks were mixed on Wednesday morning even after China announced inflation data that fell below expectations.

The National Bureau of Statistics said earlier in the day that May’s Producer Price Index fell 3.7% year-on-year, against analyst expectations of a 3.3% drop in forecasts prepared by Investing.com. April’s PPI fell by 3.1%.

The bureau also reported that May’s Consumer Price Index fell 2.4% year-on-year, while falling 0.8% month-on-month.

China’s Shanghai Composite was down 0.68% by 10:48 PM ET (3:48 AM GMT) while the Shenzhen Component gained 0.09%.

Elsewhere in Greater China, Hong Kong’s Hang Seng Index fell 0.06%. Japan’s Nikkei 225 rose 0.03% and South Korea’s KOSPI gained 0.15%.

Down Under, the ASX 200 rose 0.32%.

Some investors suggested that a pullback in a record rally that pumped $21 trillion into global stocks could be imminent.

“It would be no great surprise to see a period of market consolidation now as investors await decisive news on the coronavirus front to determine the direction of the next big market moves,” Paul O’Connor, head of multi-asset at Janus Henderson Investors, told Bloomberg.

Meanwhile, investors will be hunting for clues to the global economic recovery after the U.S. Federal Reserve concludes its policy meeting later in the day.

Asian Stocks Mixed After Disappointing Chinese Inflation Data

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

image

Our Apps

DOWNLOAD APPApp store

Investing.com

(C) 2007-2020 Fusion Media Limited. All Rights Reserved

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.

Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.

It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Related Articles

Back to top button
Close
Close
Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!