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.

Bruce Dorminey
I'm a science journalist and host of Cosmic Controversy (brucedorminey.podbean.com) as well as author of "Distant Wanderers: the Search for Planets Beyond the Solar System."  I primarily cover aerospace and astronomy. I’m a former Hong Kong bureau chief for Aviation Week & Space Technology magazine and former Paris-based technology correspondent for the Financial Times newspaper who has reported from six continents. A 1998 winner in the Royal Aeronautical Society's Aerospace Journalist of the Year Awards (AJOYA), I’ve interviewed Nobel Prize winners and written about everything from potato blight to dark energy. Previously, I was a film and arts correspondent in New York and Europe, primarily for newspaper outlets like the International Herald Tribune, the Boston Globe and Canada's Globe & Mail. Recently, I've contributed to Scientific American.com, Nature News, Physics World, and Yale Environment 360.com. I'm a current contributor to Astronomy and Sky & Telescope and a correspondent for Renewable Energy World. Twitter @bdorminey