Global Economy

Asia-Pacific stocks slip; China's September industrial profits data ahead

SINGAPORE — Shares in Asia-Pacific were lower in Wednesday morning trade even as major indexes on Wall Street notching fresh record highs again overnight.

In Japan, the Nikkei 225 dipped 0.39% while the Topix index shed 0.37%. South Korea’s Kospi also slipped 0.53%.

Shares in Australia fell into negative territory as the S&P/ASX 200 declined 0.17%. Australia’s consumer price index rose 0.8% in the September 2021 quarter, data from the country’s Bureau of Statistics showed Wednesday. The reading for quarterly consumer inflation was in line with expectations from a Reuters poll.

The Australian dollar rose to $0.7529 following the data release, against an earlier low of $0.7495.

China’s industrial profits data for September is also poised to be released at 9:30 a.m. HK/SIN on Wednesday.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded fractionally lower.

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Overnight stateside, the Dow Jones Industrial Average gained 15.73 points to a new record closing high of 35,756.88 while the S&P 500 climbed 0.18% to 4,574.79. The Nasdaq Composite rose fractionally to around 15,235.72.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.904 following a recent surge to levels around 94.

The Japanese yen traded at 114.10 per dollar, having weakened from below 114 against the greenback yesterday.

Oil prices were lower in the morning of Asia trading hours, with international benchmark Brent crude futures slipping 0.28% to $86.16 per barrel. U.S. crude futures dipped 0.32% to $84.38 per barrel.


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