Asian Shares Slip on Weak Chinese Producer Prices, Inflation

The Shanghai Composite slipped 39 points or 1.33% to 2925 by UTC 05:45. China’s producer price index declined 1.6% in October from a year earlier, squeezing profits as industrial companies struggle with tougher environmental rules and reduced orders due to the U.S – China trade war. At the same time, China’s consumer inflation rose to near 8-year high, driven by a doubling in pork prices due to African swine fever sweeping through the country’s hog herds. The Hang Seng dropped 695 points or 2.51% to 26955 amid concerns of political unrest, the NIKKEI 225 lost 47 points or 0.20% to 23338 and KOSPI fell 3 points or 0.15% to 2134.