HONG KONG: Asian markets witnessed mixed response on Wednesday as Philippine stocks came out of losses and the Hong Kong rises with hope of low inflation in China.
The Philippine market, suffered heavy losses earlier this week, has up 0.8 per cent, although it is still down 2.4 per cent. The Hang Seng Index (HSI) has gained 0.3 per cent after data showed China’s consumer price inflation hitting a four-year low in September.
Stocks in Australia XJO, +0.73 per cent were up 0.4 per cent, helped by miners’ gains. BHP Billiton, +1.05 per cent and Rio Tinto (RIO), +0.41 per cent were both up 0.8 per cent, amid recent strength in the iron-ore market. Tokyo remained near a two-month low as investors hunted for bargains. The Nikkei Stock Average (NIK), +0.92 per cent was about flat, following five-session losing streak, as the dollar USDJPY, +0.16 per cent traded at ¥107.26, a touch above ¥107.06 late Tuesday in New York.
