Asia-Pacific stocks rise as investors react to China's September inflation data

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SINGAPORE — Shares in Asia-Pacific rose in Thursday morning trade as China released its inflation data for September.

Mainland Chinese stocks were higher in early trade, with the Shanghai composite up 0.12% while the Shenzhen component gained 0.31%.

Producer inflation surged in September, official data showed Thursday. The producer price index for September soared 10.7% as compared with a year ago, slightly above expectations in a Reuters poll for a 10.5% increase.

China's consumer price index also rose 0.7% in September as compared with a year ago. That was slightly below the 0.9% on-year increase as forecast in a Reuters poll.

The Nikkei 225 in Japan advanced 1.12% while the Topix index edged 0.4% higher. South Korea's Kospi gained 1.26%.

In Australia, the S&P/ASX 200 climbed 0.96%.

MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.5% higher.

Markets in Hong Kong are closed on Thursday for a holiday.

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Overnight stateside, the S&P 500 rose 0.3% to 4,363.80 and the Nasdaq Composite climbed 0.73% to around 14,571.64. The Dow Jones Industrial Average was little changed at 34,377.81.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 94.022 after falling recently from above 94.4.

The Japanese yen traded at 113.44 per dollar, weaker than levels below 112.5 seen against the greenback earlier this week. The Australian dollar changed hands at $0.7381, above levels below $0.735 seen yesterday.

Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up 0.23% to $83.37 per barrel. U.S. crude futures gained 0.2% to $80.60 per barrel.

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