Chinese inflation figures came in weaker than expected, and came a day after trade figures showed a steep fall in imports.
Japan’s benchmark Nikkei index closed down 1.8% at 17,907.39.
China’s main index Shanghai Composite edged up 0.2% to 3,299.51, while in Hong Kong the Hang Seng index was down 0.61% at 22,460.16.
In Australia, the S&P/ASX 200 fell 0.56% to 5,173.80, while South Korea’s benchmark Kospi index dropped 0.55% to 2,007.72.
The latest official data from China – the world’s second largest economy – showed consumer inflation slowed to 1.6% in September from 2% in August. Wholesale inflation was 5.9%, unchanged from the month before.
The wholesale numbers were in line with expectations, but consumer inflation was expected to rise 1.8%. China’s target for consumer inflation is about 3%.
Economic data released on October 13 showed that imports in September fell by a more-than-expected 17.7% in yuan-denominated terms, while exports fell 1.1% from a year earlier.
As it continues to face a slowdown in economic growth, China is trying to move away from an export-led economy towards one led by consumer demand.
The sharp fall in imports posted on October 13 raised concerns around the world that domestic demand in China is weakening.
At least 158 people have died in Spain's worst flooding disaster in generations. On October…
Google has been fined two undecillion (a two followed by 36 zeroes) roubles by a…
Embarking on a home remodel is an exciting journey, promising enhanced comfort, increased property value,…
The US presidential candidates continued to campaign across key swing states on October 20. Footage…
Elon Musk has said he will give away $1 million a day to a registered…
India and Canada have decided to expel their top envoys along with other diplomats as…