Asian stocks open mixed on Chinese inflation data

Asian stocks opened on a mixed tone today, as the Chinese, Australian, New Zealand's stocks and Hong Kong's Hang Seng fell, while the Japanese stocks and the South Korean Kospi rose, after major economic data releases by several Asian economies, especially mixed Chinese inflation data.

The Australian economy released the National Australia Bank's (NAB) business confidence reading for August, which showed the expansion narrowing in August, While China released its inflation data, which showed that CPI growth stabilized, beating forecasts of a slower growth, and the PPI contraction was below forecasts.

Otherwise, Nissan stocks led the Japanese stocks with a rise of 3% after its CEO Hiroto Saikawa announced his resignation as of September 16th, While the US treasury Steven Mnuchin stated that Washington and Beijing have reached a lot of progress in the talks.

The Japanese stocks saw a rise today, with Topix rising by 0.40% or 6.16 points to reach 1,557.27 points, and Nikkei 225 also rose by 0.20% or 41.73  points to 21,360.15.

While the Chinese stocks fell, as the CSI 300 fell by 0.72% or 28.62 points to 3,944.33, and the Shanghai Composite fell by 0.51% or 15.43 points to 3,009.3.

Hong Kong's Hang Seng fell by 0.03% or 6.91 points to 26,674.49, while South Korea's Kospi rose by 0.29% or 5.90 points to 2,025.45.

To New Zealand's NZX 50, which fell by 0.91% or 101.70 points to 11,101.23, and the Australian S&P/ASX 200 rose by 0.58% or 38.66 points to 6,609.30.