Asian
stocks fluctuated, with the regional benchmark index trading near the
lowest since mid-October, as investors awaited a spate of Chinese data
for clues on the extent of the slowdown in the world’s second-largest
economy.
About
the same number of shares gained and fell on the MSCI Asia Pacific
Index, which added 0.1 percent to 132.87 as of 9:07 a.m. in Tokyo. The
gauge closed at its lowest since Oct. 14 on Tuesday as
slower-than-forecast inflation increased concern demand is weakening in
the Chinese economy. Wednesday’s reports include data on retail sales,
factory production and fixed-asset investment.
Japan’s
Topix index was little changed and South Korea’s Kospi index fell 0.1
percent. New Zealand’s S&P NZX 50 Index added 0.2 percent, and
Australia’s S&P/ASX 200 Index rose 0.3 percent. Markets in China and
Hong Kong have yet to start trading, while those in Singapore and
Malaysia reopen after Tuesday’s holiday.
Chinese
shares in Hong Kong fell on Tuesday, with the Hang Seng China
Enterprises Index sliding 1.8 percent. The mainland’s consumer-price
index rose 1.3 percent in October, official data showed, compared with
the 1.5 percent median estimate in a Bloomberg survey. The report was
the latest to show monetary easing failing to arrest a deepening
economic slowdown, after exports declined for a fourth month in October
and factory gauges signaled the nation’s manufacturing still hasn’t
bottomed out amid faltering global demand.
E-mini
futures on the Standard & Poor’s 500 Index slid 0.1 percent. The
underlying measure gained 0.2 percent on Tuesday as health-care and
consumer shares rose after equities’ steepest decline in six weeks.
Source : Bloomberg
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