Asia stocks fell today (September 11th) as China released data showing inflation remained weak in August.
China’s consumer price index last month rose two per cent from a year earlier, according to data released by the National Bureau of Statistics.
"Investors are unwinding positions as the market had a pretty big run up,” Stan Shamu, a market strategist at IG Ltd. in Melbourne, told Bloomberg.
“The market has gotten accustomed to a situation where weaker Chinese data just encourages economic stimulus. This doesn’t seem to be the case anymore. They’re focused more on reforms and if they do introduce stimulus, it will be a bit measured," he added.
Shanghai ended 0.29 per cent lower to 2,311.68 while Hong Kong slipped 0.17 per cent to 24,662.64.
Australia’s S&P/ASX 200 Index dropped 0.5 per cent and South Korea’s Kospi index slipped 0.7 per cent. Tokyo climbed 0.76 per cent to finish at 5,909.20.
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