Asian stock markets fell on Wednesday after data showed a new jump in inflation in October in China.
In particular, the consumer price index rose 1.5% in October from 0.7% last month, according to the country’s statistical office. The rise to a 13-month high was mainly driven by the jump in food and fuel prices, as the data showed.
Producer prices, meanwhile, climbed 13.5%, fueling concerns that rising price pressures could limit the ability of the country’s central bank to adjust its policies to boost growth.
In Hong Kong, the Hang Seng Index gained small gains of 0.1%, while in mainland China the Shanghai Composite lost 0.4%.
The Japanese Nikkei 225 index fell 0.6% to 29,106.78 points.
South Korea’s Kospi is down 1.1%. In Australia, the S & P / ASX 200 recorded small losses of 0.1%, while the indices are falling in Singapore and Indonesia.
Wall Street closed lower on Tuesday, ending a bullish eight-day rally that was fueled mainly by strong corporate results and encouraging financial data.