Asian shares were mixed on the final trading day of the week after the latest data revealed that inflationary pressures in the world’s second-largest economy remained benign.
Chinese consumer inflation rose an annual 2.5 percent last month, remaining at a seven-month low, while producer prices came in line with estimates. “For the government, I think the CPI is below the target and that is good news as they don’t have to worry about tightening,” said Wang Tao, head of China economic research at UBS.
Meanwhile, investors shrugged off weak economic data from the U.S. overnight. Applications for unemployment benefits were higher-than-expected last week while retail sales fell 0.4 percent from December. U.S. stocks bounced back mid-session to close higher despite the weak reports.
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