Asian Stock Market: Trades mixed amid cautious mood on China Trade data, inflationary woes
|- Asian stocks trade with a cautious tone following subdued Wall Street action.
- Higher energy prices corroborate inflationary pressures, US CPI awaited.
- Gap in US-China trade still persists despite recent talks.
Asian stocks remain edgy on Wednesday on inflationary worries. Investors remain pessimistic on worries about soaring energy prices fuelling inflation weigh and drive expectations that the US Fed would taper its emergency bond-buying program.
MSCI’s broadest index of Asia-pacific shares outside Japan rose 0.1%, after falling over 1% day in the previous session.
China’s Shanghai Composite Index fell 0.5% following China’s finance ministry announcement of issuance of an additional $930.46 million worth of sovereign bonds. Hong Kong’s stock market was closed in the morning because of a storm.
The ASX 200 trades flat after upbeat Chinese trade data. Meanwhile, Chinese media threatened Australia with further trade strikes after Prime Minister Tony Abbott made anti-Beijing statements on his visit to Taiwan.
The Nikkei 225 edges 0.1% higher, following downbeat economic data. Japan’s core machinery orders unexpectedly fell in August.
Gold remains steady above $1,762 with 0.17% gains ahead of US CPI data and the FOMC minutes on Fed’s timeline on tapering.
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