FXStreet (Bali) – Asian equities are mostly in the negative today, following the lackluster end of trading in Wall Street, in which the S&P500 saw a 0.98% decline.
The Japanese Nikkei 225 is down 0.42%, although well off its overnight lows, having found some decent buying interest at a key role-reversal area in 19,350.00. After some initial buying interest, the index has been consolidating around 19,550.00 post lunch break. Meanwhile, the Shanghai Composite, after a negative start, down 0.8%, it has recovered substantially, to now trade up by 0.4% at 3.662.00. In Australia, the SP200 is trading heavy, down 1.12% ahead of the close.
Earlier in Asia, China’s October CPI (MoM) came in at -0.3% vs -0.2% expected and 0.1% last, while the PPI also fell slightly below expectations at -5.9% YoY, below the -5.8% expected. The weak Chinese inflation numbers are likely to result in additional monetary easing by the PBOC in an attempt to underpin the deomestic economy, which remains in a negative cycle of slowing growth and low inflation.
(Market News Provided by FXstreet)