Chinese inflation data mollified Asian markets, allowing several regional stock markets to wipe out early losses and alleviating woes about the Chinese economy.
Official figures showed China’s consumer prices climbed 2.3% year-over-year in April. Wholesale prices in the country tumbled 3.4% last month from 4.3% fall in March.
Both Japan’s Topix and the Nikkei 225 rose 1.6% after the Japanese yen lost 0.4%, settling at ¥108.77 to the US dollar. The Shanghai Composite Index and the Shenzhen Composite Index dropped 0.1% and 0.2%, respectively. Hong Kong’s Hang Seng Index erased 0.2%.
The material has been provided by InstaForex Company – www.instaforex.com