Asian stocks closed lower on Wednesday (10), after the release of consumer inflation data (CPI) from China and expectations for the same price indicator in the US.
Main Chinese stock index Shanghai Composite fell 0.54% to 3230.02 points, while less comprehensive Shenzhen Composite fell 0.35% to 2180.83 points.
Leading losses in Asia, Hang Seng was down 1.96% in Hong Kong to 19,610.84 points.
Elsewhere in the region, Japan’s Nikkei lost 0.65% in Tokyo, at 27,819.33 points, South Korean Kospi lost 0.90% in Seoul, at 2,480.88 points, and Taiex was down 0, 74% in Taiwan, at 14,939.02 points.
China’s annual CPI rate accelerated to 2.7% in July, reaching the highest level in two years, although it was lower than expected.
Global investors, however, are more concerned about the US CPI, which will be released in the coming hours and has a strong influence on the interest rate trajectory of the world’s largest economy.
To combat the soaring US inflation, which is at the highest level in more than four decades, the Federal Reserve (Fed, the US central bank) has already raised interest rates four times this year, including two increases of 75 basis points, triple your normal tuning rate.
Yesterday, New York stocks were in the red, showing caution ahead of the CPI.
In Oceania, the Australian stock market followed the general negative tone, and the S&P/ASX 200 retreated 0.53% in Sydney, at 6,992.70 points.
Source: CNN Brasil
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