SINGAPORE — Shares in Asia-Pacific fell in Wednesday trade as investors reacted to the release of Chinese inflation data for October.
Hong Kong’s Hang Seng index dropped 1.18% by the afternoon, with shares of Chinese real estate firm Fantasia Holdings plunging 36.61% after returning to trade. Fantasia — whose Hong Kong-listed stock was suspended for more than a month — failed to repay a $206 million bond that matured early October.
China’s consumer inflation for October came in roughly in line with expectations, according to official data released Wednesday. The consumer price index for October rose 1.5% from last year, against expectations in a Reuters poll for a 1.4% increase.
Producer prices, however, rose more than expected. The producer price index for October surged 13.5% from last year, above expectations in a Reuters poll for a 12.4% gain.
Shares in Australia edged lower, with the S&P/ASX 200 declining 0.27%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.63% lower.
U.S. inflation data for October is also set to be released later Wednesday stateside.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 94.030 following a recent bounce from around 93.9.
The Japanese yen traded at 112.82 per dollar, stronger than levels above 113.5 seen against the greenback earlier in the trading week. The Australian dollar was at $0.7365 following a recent drop from above $0.74.
Oil prices were higher in the afternoon of Asia trading hours, with international benchmark Brent crude futures rising 0.26% to $85 per barrel. U.S. crude futures were little changed at $84.17 per barrel.
— CNBC’s Weizhen Tan contributed to this report.