Asia-Pacific markets were trading higher on Tuesday as Wall Street’s positive close lifted global sentiment, while investors weighed fresh inflation data out of China.
By 12:05 pm AEST (2:05 am GMT), Australia’s S&P/ASX 200 was up 0.1, Japan’s Nikkei 225 gained 0.3%, and South Korea’s Kospi 200 rose 1.4%.
Official figures showed South Korea’s seasonally adjusted unemployment rate rose 0.1 percentage points to 2.6% in August.
China’s latest inflation data highlighted persistent weakness in domestic demand. Consumer prices fell 0.4% year-on-year in August, sharper than expected, and were flat month-on-month.
Factory-gate deflation also persisted, though the annual decline in producer prices narrowed and the month-on-month reading was unchanged.
The data has heightened calls for Beijing to step up stimulus measures to support growth and offset weakening exports.
On Wall Street, major benchmarks finished higher on Tuesday, notching fresh record closing highs. The Dow Jones Industrial Average rose 0.4%, the S&P 500 climbed 0.3%, and the Nasdaq Composite gained 0.4%.
In commodities, Brent crude settled 0.6% higher at US$66.39 a barrel, while spot gold slipped 0.3% from record levels to US$3,626.32 an ounce.
Chinese equities fell despite the broader regional gains, with the Shanghai Composite down 0.5% to 3,807.3 and the CSI 300 easing to 4,436.3.
In contrast, Hong Kong’s Hang Seng Index surged 1.2% to 25,938.1, its highest level in four years. India’s BSE Sensex advanced 0.4% to 81,101.3.
In Europe, markets ended mixed. London’s FTSE 100 rose 0.2% to 9,242.5, Paris’ CAC 40 gained 0.2% to 7,749.4, while Frankfurt’s DAX slipped 0.4% to 23,718.5.
