Investor confidence in impending good news on Chinese inflation lifted the Shanghai market to its biggest gain in five weeks, helping to propel Asian stocks to 30-month peaks, while Seoul hit record highs.
Beijing is due to release much-awaited consumer price inflation figures on Thursday but talk in the markets was of an early leak that revealed a cooling in China’s economy.
“Investors seem to know the economic numbers due to be released [on Thursday],” Wang Zheng, of Jingxi Investment Management, told Bloomberg. “The rally reflects easing concern about inflation.”
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