Tokyo, Japan (BBN)-Asian shares were mostly in negative territory on Wednesday as investors continued to digest disappointing Chinese trade figures released on Tuesday, and as China’s latest inflation numbers were released.
Japan’s benchmark Nikkei index was down 1.8 per cent at 17,907.39 points following Wall Street’s lead, reports BBC.
Hong Kong’s Hang Seng index was down 0.61 per cent at 22,460.16.
The mainland’s Shanghai Composite was flat, up just 0.19 per cent at 3,299.51.
In Australia, the S&P/ASX 200 was down 0.56 per cent at 5,173.80 points, while South Korea’s benchmark Kospi index was down 0.55 per cent at 2,007.72 points.
China numbers
Analysts said that they would be watching Chinese shares carefully again today after official data showed consumer inflation in the country was up 1.6 per cent in September compared with a year earlier, and that wholesale inflation was down 5.9 per cent.
The wholesale numbers were in line with expectations, but consumer inflation was expected to rise 1.8 per cent. China’s target for consumer inflation is about 3 per cent.
China’s latest economic data released on Tuesday showed that imports in September fell by a more-than-expected 17.7 per cent in yuan-denominated terms, while exports fell 1.1 per cent from a year earlier.
As it continued to face a slow-down in economic growth, China is trying to move away from an export-led economy towards one led by consumer demand.
The sharp fall in imports posted on Tuesday raised concerns around the world that domestic demand was weakening in China, the world’s second largest economy.