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Most Asian stock rose due to the increasing consumer price inflation in China. The Chinese consumer price index increased 2.5% in May, after a 1.8% gain in April. Analysts had expected a 2.4% rise.
The Chinese producer price index declined 1.4% in May, after a 2.0% decrease in April. Analysts had expected a 1.5% fall.
Japan’s preliminary machine tool orders decreased to 24.1% in May from 48.7% in April. April’s figure was revised down from 48.8%.
Japanese tertiary industry activity index dropped to -5.4% in April from 2.4% in March. Analysts had expected the index to fall -3.3%.
Indexes on the close:
Nikkei 225 14,994.80 -129.20 -0.85%
Hang Seng 23,315.74 +198.27 +0.86%
Shanghai Composite 2,052.53 +22.03 +1.08%
LG Innotek Co., a supplier of camera modules for smartphones, rose 7.6%.
LG Display Co., a supplier of panels for Apple Inc., climbed 6.4%.
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