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Asian shares higher despite China data Asian shares higher despite China data
(about 9 hours later)
Asian shares were higher following US gains despite inflation data from China showing the economy is slowing. Asian shares rose on Wednesday despite inflation data from China suggesting that the economy is slowing.
The S&P 500 and Nasdaq closed higher, shrugging off more negative news from Europe. China's inflation rate fell to 1.6% in September, below expectations and the lowest rate since January 2010.
The German government cut its growth forecasts, euro zone industrial production fell and British inflation slowed sharply in September. But stock markets across Asia shrugged off the downbeat news. In Japan, the benchmark Nikkei 225 index closed up 137.01 points at 15,073.52.
Added to that, China's inflation cooled to near a five-year low of 1.6% in September. In Hong Kong, the benchmark Hang Seng index ended up 92.08 points at 23,140.05.
But Japanese shares were higher after hitting a two-month low on Tuesday. On the mainland, the Shanghai Composite finished the session up 14.20 points, or 0.6%, at 2,373.67 as the inflation data spurred talk of Beijing stepping in with stimulus measures to boost the economy.
The benchmark Nikkei 225 was up 0.4% at 15,002.92 points. Australian shares were up after a survey showed that consumer sentiment rose in October after a sharp fall the previous month.
Greater China Shares The benchmark S&P/ASX 200 ended 38.18 points higher at 5,245.6.
Hong Kong stocks opened up after pro-democracy protestors clashed with police on the streets overnight. In South Korea, the Kospi index ended lower after the central bank cut interest rates for the second time in three months.
The benchmark Hang Seng Index rose 0.2% to 23,087.50 points. The Bank of Korea cut its key rate to 2% from 2.25%, and also downgraded its growth forecasts for the economy for this year and next, citing slower than expected improvements in capital expenditure and consumer spending.
On the mainland, the Shanghai Composite was down 0.3% on the China data. The benchmark Kospi closed down 3.34 points at 1,925.91.
Australian shares were up after a survey showed that consumer sentiment rose in October from a sharp fall the previous month.
The benchmark S&P/ASX 200 was higher 0.3% at 5,220.20.
In South Korea, the Kospi was trading flat after the central bank cut interest rates for the second time in three months in line with expectations.
Earlier, the benchmark was up after data showed that exports rose almost 7% in September from a year earlier; more than expected.