Asia Pacific Stocks Mostly Advance As Chinas Factory Prices Rise More Than Expected

SINGAPORE — Asia-Pacific stocks were largely higher in Thursday trade as investors reacted to the release of China's inflation data for September.

Mainland Chinese stocks closed mildly lower. The Shanghai composite declined 0.1% to 3,558.28 while the Shenzhen component dipped fractionally to around 14,341.38.

Producer inflation surged in September, official data showed Thursday. The producer price index for September soared 10.7% as compared with a year ago, slightly above expectations in a Reuters poll for a 10.5% increase.

China's consumer price index also rose 0.7% in September as compared with a year ago. That was slightly below the 0.9% on-year increase as forecast in a Reuters poll.

"The inflationary pressure, particularly … on the producer price front, is quite persistent and will be a problem going into next year as well," Zhiwei Zhang, chief economist at Pinpoint Asset Management, told CNBC's "Street Signs Asia" on Thursday.

Some impact from higher energy prices would translate into increased consumer prices next year as well, he said.

Source : https://www.cnbc.com/2021/10/14/asia-markets-china-inflation-data-for-september-currencies-oil.html

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Asia-Pacific stocks mostly advance as Chinas factory prices rise more than expected

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