Shanghai Composite Falls After Inflation Data

chinese falls

Asian markets are higher in overnight trading.

Chinese stocks were up in early trading but turned red after inflation data showed that consumer prices climbed 2.7% and producer prices fell 2.7%.

The decline in producer prices highlighted China’s excess capacity problems.

Chinese stocks plunged on Monday after policymakers said they would cut credit to sectors suffering from overcapacity.

Meanwhile Japanese stocks are up following gains in the U.S. market.

  • The Shanghai Composite is down 0.4%
  • Hong Kong’s Hang Seng index is up 0.3%
  • The Nikkei is up 1.2%
  • Korea’s KOSPI is up 0.4%
  • Australia’s S&P/ASX 200 is up 1.3%

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