Asian Stocks Bounce, Shanghai Unimpressed by CPI
The stocks on the Asian bourses rebounded this Thursday, heading for the first gain this week after RBNZ unexpectedly slashed rates, while markets remain expectant of the additional stimulus by the ECB.
However, the Chinese stocks failed to benefit from the recovery seen in their Asian counterparts as the bulls were left unimpressed by the better than expected Chinese CPI print.
The Japanese benchmark index, the Nikkei 225 rallied +1.08% to 16,819 points, following the positive close on the Wall Street. While the overnight rally in the oil prices also aided the recovery in the region’s indices.
The Australian stocks trades moderately higher, with the ASX 200 index up 0.25% at 5,170. On the other hand, the Chinese equities extended previous losses, with the Shanghai Composite down over 1%, Shenzhen’s CSI300 also falling -1%.
(Market News Provided by FXstreet)
