Most Asian stock markets are moving negatively on Wednesday after yesterday’s losses on Wall Street and the latest data from China on inflation, which showed a new rise in prices amid a jump in energy prices.
On the board, the Japanese Nikkei 225 index recorded small losses of 0.3% and closed at 24,717.53 points, which is the lowest level since November 2020, although it was found to gain 1.1% earlier today. The broader Topix closed with marginal losses of 0.06%.
Both indices closed with losses for the fourth consecutive session.
In Hong Kong, the Hang Seng Index fell 1.3%, while in mainland China the Shanghai Composite lost 1.1%.
Data released today by the Chinese government showed that consumer prices rose 0.6% in February from the previous month, while producer prices rose 0.5%. On an annual basis, the producer price index increased by 8.8%, exceeding analysts’ estimates for an increase of 8.6%.
In Australia the S & P / ASX 200 is up 1%, while the indices in Singapore and Taiwan are gaining 1.4% and 1.1% respectively. The South Korean market remained closed for the presidential election.
Meanwhile, oil prices continue to rise after the US decision to suspend imports of Russian energy products. Brent traded up 2.1% at $ 130.70 a barrel in London.
Source: Capital
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