Mixed closing of Asia, with the Chinese CPI and Ómicron as protagonists

Mixed closing of Asia, with the Chinese CPI and Ómicron as protagonists

The main stock markets of the Asian continent leave a mixed sign this Thursday, when the data of the Chinese CPI and the production prices of the second world power have been released. Investors are also keeping a close eye on developments around the Omicron variant of Covid.

Mainland China’s shares have been trading higher. The Shanghai Composite Index rose 0.97% to 3,673 points and Shenzhen’s 1.23% to 15,147.87 points .

The Chinese consumer price index (CPI) for the month of November rose less than expected, 2.3% compared to the 2.5% predicted by a Reuters poll. However, the prices of fresh food, especially vegetables, have risen by 30.6% , while pork, which weighs heavily in the global price index, has done so by 12.2%.

This morning the data of the producer price index (PPI) were also released, which rose 12.9% , exceeding expectations of an increase of 12.4%. But the November level was a slowdown compared to October, when the index rose 13.5%.

In Japan, the Nikkei 225 was down 0.47% to 28,725.47, while the Topix Index fell 0.57% to 1,990.79.

In Australia, the ASX 200 lost 0.28% to 7,384.50, and most sectors closed lower. The energy and materials sub-indices fell 1.09% and 0.51%. Shares of large mining companies Rio Tinto and BHP fell 0.94% and 1.2%, respectively.

South Korean stocks advanced, with the benchmark Kospi index gaining 0.93% to 3,029.57 and the Kosdaq rising 1.67% to 1,022.87.