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Asian shares mostly gain as weak China price data bolsters easing views

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Investing.com -

Investing.com - Asian shares mostly rose on Tuesday on views that China may ease monetary policy further after weak price data underlined slower economic growth.

The Shanghai Composite gained 0.72% while the Hang Seng eased 0.08% and the Nikeei 225 gained 0.79%.

China's January CPI rose 0.8%, below the 1.0% expected year-on-year, while PPI data eased 4.3%, compared to a fall of 3.8% year-on-year expected, the steepest drop since October 2009.

In Australia, the NAB's business confidence and business conditions for January showed plus-2 for conditions, unchanged from December, while confidence came in at plus-3, from plus-2 in December.

The house price index for the fourth quarter rose 1.9% quarter-on-quarter. The data was seen as moderate and in line with the Reserve Bank lowering the cash rate last week to a record low 2.25%. The RBA continues to watch for corrections in housing imbalances and work with regulators to introduce more measure if and when needed.

Australia's S&P/ASX 200 rose 0.37% after the data.

Overnight, U.S. stocks were lower after the close on Monday, as losses in the Health Care, Utilities and Consumer Services sectors led shares lower.

At the close in New York, the Dow Jones Industrial Average fell 0.53%, while the S&P 500 index lost 0.42%, and the NASDAQ Composite index lost 0.39%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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