ASIA-PAC EQUITY WRAP: Asian stocks were constrained as participants digested earnings and soft Chinese inflation

Analysis details (05:45)

Asia-Pac stocks traded mixed after the indecisive performance stateside where stock markets whipsawed and treasuries rallied in the absence of any hawkish surprises from the US CPI report, while the regional bourses also reflected on softer-than-expected Chinese inflation data. ASX 200 (-0.1%) was marginally lower as weakness in utilities and the commodity-related sectors overshadowed the outperformance in tech and after consumer inflation expectations ticked higher. Nikkei 225 (+0.1%) was indecisive with the biggest movers in the index largely influenced by earnings releases, while the BoJ’s Summary of Opinions from the April meeting provided very little in the way of fresh insight. Hang Seng (-0.1%) and Shanghai Comp. (-0.1%) were choppy after the latest Chinese inflation supported the idea of a slow economic rebound as consumer prices grew at the slowest pace of increase since February 2021 and with factory gate prices at a deeper deflation.

11 May 2023 - 05:44- Fixed IncomeData- Source: Newsquawk