Asian stocks soar as China inflation data meets expectations

Stocks in Asia traded in the positive territory as China inflation data met street expectations.
 
The Nikkei 225 advanced 0.59% and South Korea’s benchmark Kospi index edged up 0.01%.
 
The ASX 200 gained 0.67%, led by gains in the financials and information technology sub-indexes.
 
The Hang Seng Index was up 0.48%, but markets on the mainland traded lower. The Shanghai Composite was off by 0.17% and the Shenzhen Composite slid 0.23%.
 
June inflation data out of China was in line with expectations. China CPI gained 1.5% on year and PPI rose 5.5%. Both figures were in line with forecasts of market observers.



ASIAN MARKET UPDATES