Asia trades mixed amid inflation worries

Wednesday, 02. June 2021 05:14

Stocks in Asia-Pacific traded mixed on Wednesday with investors concerned about pent-up consumer demand amid the pandemic driving prices up and leading to short-lived inflation, which would hinder gradual and sustained economic growth.

The markets reacted to comments by US Federal Reserve chair Randal Quarles who noted that the Fed's projections of moderate inflation risks could be wrong but that the bank has the necessary tools to combat a rise in consumer prices.

On the Chinese mainland, the Shenzhen Composite traded 1.01% lower at 5:06 am CET, with the Shanghai Composite down by 0.79% at the same time. Hong Kong's Hang Seng lost 0.56% at 5:06 am CET, as South Korea's Kospi Composite stood flat. At 5:09 am CET, the Australian S&P/ASX 200 added 0.86% as the dollar rose 0.09% against the yen, going for ¥109.5905. Japan's Nikkei 225 increased by 0.46% at 4:35 am CET.

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