Asian shares slid further on China inflation data
Inflation in the world’s second largest economy eased in September.
Asian stocks traded lower again today (October 14th), led by a weak overnight session on Wall Street, as investors reacted to disappointing China inflation data, a day after the release of weak China trade data.
Inflation in the world's second largest economy eased in September, with consumer prices rising 1.6 per cent over a year earlier, driven by a 2.7 per cent rise in food costs.
This is lower than forecasts of a 1.8 per cent rise from a Reuters poll and down on August's two per cent gain.
Yesterday, imports data showed a larger-than-expected slide of 20.4 per cent from a year ago, which sparked concerns about demand.
Overnight, US stocks finished lower, with the Standard & Poor's 500 losing 0.7 per cent to 2,003.69, the Dow Jones industrial average dropping 0.3 per cent to 17,081.89 and the Nasdaq composite falling 0.9 per cent to 4,796.61.
Japan's Nikkei 225 lost two per cent today to finish at 17,865.37 and South Korea's Kospi dropped 0.5 per cent to 2,009.37. Hong Kong's Hang Seng dipped 0.8 per cent to 22,411.20, China's Shanghai Composite Index edged down 0.1 per cent to 3,289.80 and Australia's S&P/ASX 200 fell 0.2 per cent to 5,195.10.
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