Asia-Pacific stocks are mixed as investors await U.S. inflation data

Asia-Pacific stocks are mixed as investors await U.S. inflation data

February 11, 2022: -On Thursday, Shares in Asia-Pacific were mixed as investors awaited the release of U.S. consumer inflation data.

Mainland Chinese stocks closed mixed, with the Shanghai composite increasing 0.17% to 3,485.91 while the Shenzhen component came to 0.733% to 13,432.07.

Hong Kong’s Hang Seng index is gaining 0.15% as its final hour of trading. Hong Kong-listed shares of China Evergrande Group soared over 4%. Reuters reported that the embattled developer aimed to deliver 600,000 apartments in 2022 but does not look to a fire sale of its assets to clear its debts.

In India, the Nifty 50 increased 0.84% while the BSE Sensex gained 0.85%, as of 12:59 p.m. local time.

The governor of the Reserve Bank of India announced on Thursday that the monetary policy committee voted to keep the repo rate or the rate the central bank lends to commercial lenders unchanged at 4%.

The RBI’s reverse repo rate or the rate commercial banks lend to the central bank remained steady at 3.35%.

Following that announcement, the Indian rupee was at 74.9625 per dollar, less than an earlier high of 74.778 seen against the greenback.

The Nikkei 225 in Japan went up to 0.42% to close at 27,696.08, while the Topix index increased 0.53% to 1,962.61. South Korea’s Kospi advanced 0.11% on the day to 2,771.93.

In Australia, the S&P/ASX 200 increasing 0.28%, closing at 7,288.50.

MSCI’s broadest index of Asia-Pacific stocks outside Japan gained 0.61%.

Overnight stateside, the Dow Jones Industrial Average went to 305.28 points to 35,768.06 while the S&P 500 gained 1.45% to 4,587.18. The Nasdaq Composite outperformed, increasing 2.08% to 14,490.37.

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Asia-Pacific stocks are mixed as investors await U.S. inflation data