Australian inflation, Chinese industrial profits, oil

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SINGAPORE – Stocks in Asia-Pacific were down on Wednesday, with Chinese tech stocks in Hong Kong posting heavy losses.

On Wednesday afternoon in Hong Kong, shares of Tencent fell 3.15% while Alibaba fell 3.07% and Meituan fell 4.1%. The Hang Seng Tech Index slipped 3.32%.

The larger Hang Seng index in Hong Kong caused losses among the region’s major markets, falling 1.52%.

Mainland China stocks were also lower, with the Shanghai composite losing 0.92% and the Shenzhen component falling 1.13%.

Industrial profits in China jumped 16.3% year-on-year in September, according to data released Thursday by China’s National Bureau of Statistics.

In Japan, the Nikkei 225 fell 0.55% while the Topix index lost 0.54%. South Korea’s Kospi also slipped 0.92%.

Australian stocks were little changed with the S & P / ASX 200 hovering above the flat line. Australia’s consumer price index rose 0.8% in the September 2021 quarter, data from the country’s Bureau of Statistics showed on Wednesday. The reading of quarterly consumer inflation was in line with the expectations of a Reuters poll.

The Australian dollar climbed to $ 0.7519 after the data was released, from an earlier low of $ 0.7495.

The largest MSCI index of Asia-Pacific stocks excluding Japan fell 0.78%.

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Overnight in the US, the Dow Jones Industrial Average gained 15.73 points to a new closing high of 35,756.88 as the S&P 500 climbed 0.18% to 4,574.79 . The Nasdaq Composite edged up to around 15,235.72.

Currencies and oil

The The US dollar index, which tracks the greenback against a basket of its peers, was at 93.906 after a recent surge to levels around 94.

The Japanese yen was trading at 113.96 per dollar, stronger than the levels around 114.2 seen earlier against the greenback.

Oil prices were lower in the afternoon of trading hours in Asia, with international benchmark Brent crude futures slipping 0.53% to $ 85.94 a barrel. US crude futures fell 0.72% to $ 84.04 a barrel.


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