August saw extremely hot temperatures in parts of China, leading to temporary electricity rationing in some regions. Pictured here on August 24, 2022 is the downtown Chongqing skyline with lights partially turned off to save energy during the heat wave.
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Hong Kong shares fall more than 2%, paring leading losses in broader Asia-Pacific markets as investors digest China’s inflation and trade data for September.
China’s consumer price index remained unchanged in September, below the 0.2% rise that analysts polled by Portal had expected. China also reported a 2.5% fall in its producer price index, while Portal expected a fall of 2.4%.
Hong Kong’s Hang Seng Index traded 2.45% lower in its final hour of trading. China’s benchmark CSI 300 fell 1.05% to close at 3,663.41.
In Japan, the Nikkei 225 slipped 0.55% to close at 32,315.99 and South Korea’s Kospi fell 0.95% to close at 2,456.15.
The S&P/ASX 200 in Australia was down 0.56% to close at 7,051.
Overnight in the US, all three major indexes closed lower after stronger-than-expected US inflation data. The Dow Jones Industrial Average slipped 0.51%, or 173.73 points, to close at 33,631.14. The S&P 500 fell 0.62% to end at 4,349.61. The Nasdaq Composite lost 0.63% to close at 13,574.22.
The U.S. consumer price index, released on Thursday, rose 0.4% in September from the previous month and 3.7% from a year earlier. The data follows a stronger-than-expected producer price index for September.
— CNBC’s Pia Singh and Hakyung Kim contributed to this report