Traders in Asia assessed wholesale inflation numbers from Japan, with focus also on inflation data out of China.
China's inflation numbers narrowly missed expectations, recording a 0.2% rise compared to expectations of a 0.4% climb from Reuters. Japan's Nikkei 225 extended gains from Tuesday to reach a fresh closing high at 41,831.99, while the broad-based Topix gained 0.47% to close at 2,909.2, also at a new closing high.Asia-Pacific markets were mixed on Wednesday, with Japan markets hitting new records after inflation data from the country met expectations.extended gains from Tuesday to reach a fresh closing high of 41,831.99, while the broad-based Topix gained 0.47% to close at 2,909.2, also a record closing high.
Separately, Reuters reported that China's largest insurer, Ping An Insurance, is considering issuing convertible bonds worth up to $5 billion, according to sources with direct knowledge of the matter., in line with expectations and climbing at a faster pace compared to a revised 2.6% in May. The CGPI measures the price changes of goods traded within the corporate sector.climbed to a fresh record, gaining 0.07% to 5,576.
Powell signaled caution over leaving interest rates at too high a level, saying that "reducing policy restraint too late or too little could unduly weaken economic activity and employment."
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