BEIJING / LONDON (IT BOLTWISE) – Asian markets were mostly weaker on Wednesday as investors analyzed the latest inflation data from China and awaited the US Federal Reserve’s interest rate decision. The Hang Seng Index in Hong Kong fell 0.56%, while the CSI 300 in mainland China fell 0.78%. Consumer prices in China rose 0.7% year-on-year, marking the highest level since February last year.
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Asian markets were mostly bearish on Wednesday as investors analyzed the latest inflation data from China and awaited the US Federal Reserve’s upcoming interest rate decision. The Hang Seng Index in Hong Kong fell 0.56%, while the CSI 300 in mainland China fell 0.78%. These developments followed news that consumer prices in China rose 0.7% year-on-year, marking the highest level since February last year.
China’s producer prices fell 2.2% in November from a year earlier, beating expectations for a 2% decline and extending the deflationary phase into a fourth year. These economic indicators raise questions about the stability of China’s economy, particularly in a global environment characterized by uncertainty.
Elsewhere in Asia, Australia’s S&P/ASX 200 index was flat, while Japan’s Nikkei 225 fell 0.22% and the Topix was flat. In South Korea, the Kospi fell 0.12%, while the smaller Kosdaq gained 0.2%. These mixed reactions reflect the uncertainties heightened by the US Federal Reserve’s upcoming interest rate decision.
Markets widely expect the Federal Reserve to cut interest rates by another 0.25 percentage points, matching the rate cuts in September and October. These monetary policy measures will be closely watched as they could have far-reaching effects on global financial markets. In the US, the S&P 500 closed almost unchanged, while the Nasdaq Composite rose slightly and the Dow Jones Industrial Average fell 179.03 points due to a decline in JPMorgan shares.
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