Asian shares mostly up on US data

<p>US annual core inflation rose 1.9 per cent in September.</p>

Asian stocks ended the week mostly up today (October 16th) after fresh data revealed US annual core inflation rose 1.9 per cent in September, beating expectations.

While the figures eased worries about the health of the world's largest economy, they also renewed speculation that the US Federal Reserve could start raising interest rates this year.

The inflation numbers come a day after the release of weak US retail sales and producer prices data.

Meanwhile, investors traded cautiously due to the stronger dollar and weak oil prices, which fell for four consecutive days this week.

China's Shanghai Composite index rose 1.60 per cent to 3,391.35 after upbeat bank lending figures helped ease concerns about the economy.

Hong Kong's Hang Seng index edged up 0.8 per cent to 23,067.37, Japan's Nikkei index rose one per cent to 18,291.80 and Australia's S&P/ASX 200 index gained 0.7 per cent to 5,268.2. South Korea's Kospi index edged down 0.1 per cent to 2,030.26. 

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