A public screen displays stock figures in Shanghai, China, on Monday, Oct. 10, 2022.
Bloomberg | Bloomberg | Getty Images
Mainland Chinese stocks fell to a five-year low while Australian stocks smashed all-time records on Wednesday.
The S&P/ASX 200 gained 1.06% and closing at 7,680.7, surpassing its previous record high of 7,632.8 set back on August 13, 2021.
This comes after the country’s fourth-quarter inflation rate was lower than expected at 4.1%, its lowest level since the quarter ended December 2021.
China’s CSI 300 slid to a five-year-low, sinking 0.91% to close at 3,215.35 after China’s manufacturing activity shrank for the fourth straight month in January, with the official manufacturing purchasing index at 49.2. Hong Kong’s Hang Seng index dropped 1.78%.
Other Asia-Pacific markets were mixed. Japan’s Nikkei 225 closed 0.6% higher at 36,286.71, while the broad based Topix also ended nearly 1% higher at 2,551.10.
South Korea’s
