Asian markets end higher on Wednesday
South Korean shares gained for the third consecutive session, with automakers and financials leading the surge
Asian markets ended higher on Wednesday as softer-than-expected US retail sales data, for December lifted the prospect of near-term Federal Reserve rate cuts. The Chinese Shanghai Composite rose marginally, while China's yuan fell as slower consumer inflation for January and persistent producer-price deflation reinforced expectations of new support measures. China inflation softened in January due to Lunar New Year holiday effects, while producer price deflation softened. Consumer price inflation weakened to 0.2% in the month January from 0.8% in December. Inflation was seen at 0.4%. On monthly basis, consumer prices gained 0.2%, slightly slower than the expected growth of 0.3%. Besides, South Korean shares gained for the third consecutive session, with automakers and financials leading the surge. Japanese markets were closed for the National Founding Day.
| Asian Indices | Last Trade | Change in Points | Change in % |
| Shanghai Composite | 4,131.99 | 3.61 | 0.09 |
| Hang Seng | 27,266.38 | 83.23 | 0.31 |
| Jakarta Composite | 8,290.97 | 159.23 | 1.96 |
| KLSE Composite | 1,756.39 | 8.85 | 0.51 |
| Nikkei 225 | -- | -- | -- |
| Straits Times | 4,984.58 | 20.33 | 0.41 |
| KOSPI Composite | 5,354.49 | 52.80 | 1.00 |
| Taiwan Weighted | 33,605.71 | 532.74 | 1.61 |
