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Asian shares traded slightly higher earlier on Wednesday after China released gloomy inflation data on the same day.
China’s Shanghai Composite slid by 0.68% at 10:48 PM ET (3:48 AM GMT), while the Shenzhen Component inched up by 0.9%.
Hong Kong’s Hang Seng Index lost 0.6%.
Meanwhile, Japan’s Nikkei gained 0.03%, while South Korea’s KOSPI rose by 0.15%.
Down Under, the ASX200 index gained 0.32%.
The National Bureau of Statistics said that China’s Producer Price Index (PPI) slipped by 3.7% on May year-on-year. The data fell below the expected 3.3% fall from analysts at Investing.com. China’s PPI for April fell by 3.1%.
Furthermore, the bureau reported that the Consumer Price Index (CPI) for May dropped by 2.4% year-on-year and 0.8% month-on-month.
Investors are currently eyeing the conclusion of a Fed meeting scheduled later in the day in hopes of finding hints to the recovery of the global economy.
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European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
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