Asia Equities Mixed As Investors Await U.S. CPI, Hang Seng outperforms


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Date | 14-02-2018 - 01:22 PM Article Type | Stock Markets Region | Asia

© Reuters. Investors await the release of U.S. inflation report later today

 

Investing.com - Asian equities were mixed in Wednesday’s afternoon trading sessions, as investors await the release of U.S. inflation report later today.

Major U.S. stock indexes rose slightly overnight, recording a third consecutive winning streak as investors await the inflation report scheduled to come out later today. Dowjumped 0.16%, while S&P 500 and Nasdaq also gained 0.26% and 0.45% respectively.

Japan took centre stage in the region as the country’s 4Q GDP missed estimate and grew 0.5% YoY vs the expected 1%. Nikkei traded lower following the release of the data and closed 0.5% lower. A stronger yen was also cited as a headwind for equities.

Although not a directional driver, China’s January non-financial outbound investment in January jumped 39.7% YoY to $10.8 billion, compared with a 35.7% fall last January. Mainland Chinese markets fell with Shenzhen Component trading x% lower while Shanghai Composite was also down 0.4% by 1am ET.

Hong Kong's Hang Seng Index however outperformed its regional peers and gained 1%.

ASX gave up its early gains and closed 0.25% lower, weighed down by a drop inCommonwealth Bank Of Australia (AX:CBA) shares. Corporate calendar was the focus for investors with Domino’s Pizza Group (AX:DMP) down 6.1% and Fletcher Building (AX:FBU) plunged 7.1% following disappointment results. Myer Holdings (AX:MYR)’ shares jumped 1.9% after announcing its CEO had step down.

Elsewhere, Korea-listed Lotte Corp, holding company of Lotte Group, saw its shares down more than % to an 8-week low after group chief was arrested for bribery. Lotte’s affiliates also traded lower early on Wednesday, with Lotte Shopping (KS:023530) dropping 2.1%, Lotte Chilsung Beverage (KS:005300) and Lotte Confectionery(KS:004990) both fell more than 3%. KOSPI was up 0.92%.



Author: Heng V. Mony
Source: investing.com
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