Asian stocks traded mixed Thursday as investors digested a slew of economic data from the U.S. and China. The pound gave back some of Wednesday’s surge as traders positioned for the next steps in the Brexit saga.
Shares fluctuated in Hong Kong and Japan, and declined in China after its retail sales data was in line with expectations and industrial production data slightly below. Earlier, the S&P 500 Index climbed to a four-month high after U.S. business equipment orders increased by the most in six months and a producer price index signaled modest pressure on inflation. Treasury yields ticked higher with the dollar and the yen weakened.
The MSCI Asia Pacific Index slid 0.2 percent as of 11:50 a.m. Hong Kong time. Japan’s Topix index rose 0.1 percent. Hong Kong’s Hang Seng advanced 0.1 percent. China’s Shanghai Composite gauge fell 1.1 percent.
The yen slid 0.3 percent to 111.55 per dollar. The euro bought $1.1321, little changed. The British pound was at $1.3255, down 0.6 percent, after surging 2 percent.