Japan stocks scale new peaks after inflation data meets expectations amid mixed Asia markets

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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Asia markets mixed as China manufacturing contracts again, Japan business confidence at 2-year highInvestors in Asia are coming off a positive inflation report in the U.S. last week, and will assess business data from the region.
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