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Asian stocks drift higher as CPI test approaches; China dips on US tariffs

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Asian stocks drift higher as CPI test approaches; China dips on US tariffs

Investing.com-- Most Asian stocks rose slightly on Wednesday ahead of key U.S. consumer inflation data, while Chinese markets lagged their peers after the Biden administration slapped the country with higher tariffs on several key industries.

The move drew ire from Chinese authorities, and sowed fears of retaliatory measures from the world’s second-largest economy. The increased tariffs further soured sentiment towards Chinese markets, after another major default in the country’s property market pointed to more headwinds from the sector.

 

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