Stock market today: Asian shares mostly higher after China reports that prices fell in October

📆 09/11/2023 08:40:00
📰 AP

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Shares are mostly higher in Asia after a another mixed close as Wall Street recalibrates following recent big swings. China reported that its consumer prices fell 0.2% from a year earlier in October while factory-gate prices declined 2.6%. Benchmarks fell in Hong Kong, Taiwan and Bangkok and rose in Tokyo, Seoul and Shanghai.

Business men gather in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Thursday, Nov. 9, 2023, in Tokyo. Shares have fallen in Asia after a another mixed close as Wall Street recalibrates following recent big swings. People stand in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Thursday, Nov. 9, 2023, in Tokyo.

Falling prices have raised worries that China may fall into a bout of deflation, or chronically lower prices, but some analysts say much of the weakness recently is due to a decline in the cost of pork, a staple item for Chinese.Stock market today: Asian shares mixed as China reports that prices fell in October“What China has right now, is a low rate of underlying inflation, which reflects the fact that domestic demand is fairly weak,” Robert Carnell of ING Economics said in a report.

South Korea’s Kospi added 0.2% to 2,427.08, while in Australia, the S&P/ASX 200 gained 0.3% to 7,014.90. In Bangkok, the SET lost 1.3%. Warner Brothers Discovery tumbled 19% after reporting a worse loss for the latest quarter than analysts expected. It also lost more streaming subscribers than forecast.beginning in the summer dragged the S&P 500 down by more than 10% from its peak for the year. The 10-year yield briefly topped 5% to reach its highest level since 2007, as it tracked the Federal Reserve’s main interest rate, which is above 5.25% and at its highest level since 2001.

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