Most of the Asian markets fell in the week as investor confidence was weighed down by the report that inflationary pressures continued to increase in China, lowering the prospects for further loosening of the monetary policy.
Hong Kong's Hang Seng Index declined 0.3 percent and closed at 23264.07. China’s Shanghai Composite fell 1.5 percent and closed at 2243 points.
China’s inflation rate accelerated faster than expected in December. The data from the National Bureau of Statistics released Friday showed that the consumer price index of China rose 2.5 percent in December compared with that in the same period in the previous year and from 2 percent in November, exceeding the analysts’ average forecast of 2.3 percent.
It was revealed Thursday that China’s trade surplus gained in December compared with that in the previous month. According to the data released Thursday by the National Bureau of Statistics, China’s trade surplus rose to $31.6 billion in December, compared with $19.6 billion in November and far above the analysts’ average forecast of $19.7 billion. China’s exports rose 14.1 percent in December after a 2.9 percent increase in November.
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Reported by IBTimes 18 hours ago.