Commercial and residential buildings are illuminated at dawn in Seoul, South Korea, on Saturday, October 21, 2023. South Korea has prepared a 75.9 trillion won ($56.97 billion) financial support program for companies that increase their investments in major as well as small sectors. Companies suffering from the impact of rising interest rates.
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Asia-Pacific markets were mixed after Wall Street jumped overnight, following US inflation data that was largely in line with expectations.
The US Consumer Price Index rose in February by 0.4% on a monthly basis and 3.2% on a yearly basis, the Bureau of Labor Statistics said on Tuesday.
Economists polled by Dow Jones had expected an increase of 0.4% on a monthly basis and 3.1% on an annual basis.
Core inflation, which excludes food and energy from the headline reading, rose 0.4% in February, compared with expectations for a 0.3% increase.
in Australia, Standard & Poor's/ASX 200 It ended the day 0.22% higher at 7,729.40, extending Tuesday's gains.
Japan Nikki 225 The index reversed gains to fall 0.13%, while the broad-based Topix also fell 0.16% after posting gains early in the session.
South Korea Cosby It rose 0.27% after the unemployment rate in February reached 2.6%, down from January's figure of 3%. The small-cap Kosdaq index fell 0.26%, on track to end three days of gains.
Hong Kong's Hang Seng rose 0.3%, extending gains after rising more than 3% on Tuesday, and the mainland's CSI 300 fell 0.58%.
Overnight in the United States, all three major indices rose after inflation readings, with… Standard & Poor's 500 It rose 1.12% and reached a new record high of 5,175.27.
the Nasdaq Composite Stocks also saw gains of 1.54% as investors returned to technology names, sending Nvidia and Oracle shares up 7% and 11%, respectively. the Dow Jones Industrial Average It rose by 0.61%.
— CNBC's Yun Li and Brian Evans contributed to this report
