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Chinese markets ignore inflation data | |
(about 1 hour later) | |
Chinese markets rose on Tuesday, as investors ignored data that showed consumer inflation hitting a five-year low in January. | |
China's inflation rose 0.8% from December, compared to forecasts of 1% - marking the weakest reading since November 2009. | |
The producer price index also missed forecasts, dropping 4.3% - marking its 35th consecutive monthly decline. | |
Despite the figures, the Shanghai Composite was up 0.7% at 3,117.46. | |
In Hong Kong, the Hang Seng index was higher 0.05% to 24,532.06. | |
China's inflation has remained around five-year lows for the last few months, highlighting the persistent weakness in the world's second largest economy. | |
Greek woes weigh | |
The rest of Asian markets traded lower as fears of a Greek debt default and exit from the eurozone escalated. | |
Investors were worried after Greece's Prime Minister Alexis Tsipras vowed over the weekend to stand by his anti-austerity promises, raising fears of a default on $360bn (£236bn) of debt. | Investors were worried after Greece's Prime Minister Alexis Tsipras vowed over the weekend to stand by his anti-austerity promises, raising fears of a default on $360bn (£236bn) of debt. |
The Athens stock market closed down nearly 5%. | The Athens stock market closed down nearly 5%. |
In Japan, the benchmark Nikkei 225 was down 0.8% at 17,573.51, while the dollar was at 118.43 yen from 118.64 yen in New York trade. | |
In Australia, shares headed lower after data showed that house prices grew below expectations in the last three months of 2014, compared with a year earlier. | In Australia, shares headed lower after data showed that house prices grew below expectations in the last three months of 2014, compared with a year earlier. |
Prices rose 6.8% against forecasts of a 7.1% increase and had grown 9% in the third quarter. | Prices rose 6.8% against forecasts of a 7.1% increase and had grown 9% in the third quarter. |
A monthly measure of Australian business conditions by National Australia Bank also stayed subdued in January as manufacturers reported tough times. | A monthly measure of Australian business conditions by National Australia Bank also stayed subdued in January as manufacturers reported tough times. |
The S&P/ASX 200 was lower by 0.5% at 5,785.6. | |
South Korean shares were down after data showed that department store sales in January fell nearly 10% from a year ago, which is the most in a decade and worst on record. | South Korean shares were down after data showed that department store sales in January fell nearly 10% from a year ago, which is the most in a decade and worst on record. |
Sales at the country's top discount stores fell by 20.7% in January from a year earlier - marking the worst decline since February last year. | Sales at the country's top discount stores fell by 20.7% in January from a year earlier - marking the worst decline since February last year. |
The benchmark Kospi index was down 0.4% at 1,939.46. |