Japan stocks led losses in the Asia-Pacific region after the country averted a technical recession, paving the way for its central bank to raise rates, while investors also assessed China’s inflation numbers.
In Japan, the Nikkei 225 index dumped 868.45 points, or 2.2%, to 38,820.49, led by technology stocks, as revised official data showed Japan’s GDP expanded 0.4% in the October-December period last year.
In Hong Kong, the Hang Seng index vaulted 234.18 points, or 1.4%, to 16,587.57.
Australian indexes collapsed, retreating from their all-time high and snapping a three-day winning streak.
CHINA
China recorded its first month of inflation after four months of deflation with the country’s consumer price index climbing 0.7% year on year in February.
In Shanghai, the CSI 300 gained 44.25 points, or 1.3%, to 3,589.25.
The CPI, which had fallen 0.8% in January, and also beat expectations of 0.3% from economists polled by Reuters.
In other markets
In Korea, the Kospi index dropped 20.51 points, or 0.8%, to 2,659.84.
In Taiwan, the Taiex index subsided 59.24 points, or 0.3%, to 19,726.08.
Singapore’s Straits Times Index retreated 8.67 points, or 0.3%, to 3,138.42.
In New Zealand, the NZX 50 subtracted 50.05 points, or 0.4%, to 11,873.68.
In Australia, the ASX 200 tumbled 142.76 points, or 1.8%, to 7,704.22.
