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Asian shares mixed after US inflation report

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TOKYO (AP) — Asian shares were mixed Thursday after a worrisome report on U.S. inflation that slammed into the bond market and knocked stocks lower on Wall Street.

In Japan, where investors are awaiting an economic stimulus package from newly elected Prime Minister Fumio Kishida, the benchmark Nikkei 225 climbed 0.5% to 29,255.02. Australia’s S&P/ASX 200 fell 0.6% to 7,381.90. South Korea’s Kospi shed 0.4% to 2,917.44.

Hong Kong’s Hang Seng rose 0.5% to 25,116.36, while the Shanghai Composite gained 1.0% to 3,527.62.

A recent regulatory crackdown in China has weighed on technology issues, but some stocks are recovering as investors decide the selloff may have been overdone.

“Sentiments may be expected to remain capped by the negative lead in Wall Street overnight, with market participants taking some risks off the market while awaiting reassurances on monetary policy stance,” said Yeap Jun Rong, market strategist at IG in Singapore.

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