Asian Stocks
Stocks in Asian region was seen climbing on Wednesday after Wall Street gains overnight as the market focus on the release of the Chinese inflation report.
The Japanese Nikkei 225 index rose 0.45% to 15,003.96 points at the time of writing, while Tokyo’s Topix index added 0.38% to 1,218.94 points.
The Japanese yen weakened against the US dollar on Wednesday, trading around 107.25 yen versus 107.10 yen on Tuesday, boosting exporter’s gains. Japan airlines went up 6.3% to 2,818 yen, while Skymark Airlines added 9% to 219 yen. Softbank saw the most gains on the Topix index, gaining 2.2% to 7,026 yen, while electronic-makers Olympus and Casio Computer advanced 1.7% during the early trading hours.
On the downside, Japan Petroleum went down 1.9% to 3,585 yen, marking the biggest drop on the Topix index.
Hong Kong’s Hang Seng index declined 0.08% to trade at 23,030.37 points, while the Chinese mainland Shanghai Composite edged 0.07% higher to 2,361.03 points at the same time.
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As the market focus on the release of China’s inflation data due later in the day, analysts are expecting the region’s largest economy to show the weakest rate of consumer-price inflation since January 2012. China’s consumer Prices Index is projected to jump to 1.7% year-on-year in September, compared to the 2.0% recorded in the previous month. China’s producer-price deflation is forecasted to climb 1.6% in September.
The South Korean Kospi index rose 0.08% higher to 1,930.76 points after the Bank of Korea cut its policy interest rate 25 basis points to 2% on Wednesday.
Australia
In Sydney, the benchmark S&P/ASX 200 index rose 0.45% higher to 5,230.70 points, boosting some of the mining stocks.
In mining stocks, mining giants Rio Tinto and BHP Billiton gained 1.6% and 1.7% respectively, while Fortescue Metals added 2.5% after spot prices of iron ore went up earlier this week.
In banking stocks, ANZ and Westpac added 0.7% each, while National Australia Bank rose 0.9% and Commonwealth Bank of Australia gained 1.3%.
European Stocks
The European Euro Stoxx 50 fell 0.24% lower to 2,998.50, while the UK’s FTSE 100 declined 0.36% to 6,369.80 at the time of writing. In France, the benchmark CAC lost 0.23% to 4,078.69.
Germany’s DAX 30 index opened the session 0.11% higher to 8,834.80 after the German finance ministry cut its domestic growth outlook on Tuesday, projecting an expansion of 1.2% this year from the previous forecast of 1.8% and 1.3% for 2015 from 2%.
Germany’s consumer prices climbed in September to 0.8% on a year-on-year basis, according to the Federal Statistical Office.
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