Fresh inflation numbers out of China are boosting investor sentiment around the globe
Asian stocks closed higher today, as crude oil prices continued to climb following Thursday's encouraging U.S. stockpiles report. Traders are shaking off yesterday's
concerning trade data out of China, as the country today noted an uptick in inflation, with consumer and producer prices rising more than expected in September -- with the former marking its first year-over-year increase since January 2012. As such, China's Shanghai Composite added nearly 0.1%.
Elsewhere in the region, Japan's Nikkei tacked on 0.5%, as a weaker yen boosted exporters. South Korea's Kospi climbed 0.4%, as shares of Samsung Electronics jumped even after the smartphone maker said its recent Galaxy Note 7 woes would result in a $3.1 billion hit to its operating profits. Rounding things out, Hong Kong's Hang Seng ended the day 0.9% higher.
European markets are enjoying gains at midday, as banks shares surge and mining stocks get a lift from China's inflation data. Automakers are also in focus, after new car sales in the eurozone rose 7.3% in September. At last check, London's FTSE 100 is up 0.9%, Germany's DAX has added 1.6%, and France's CAC 40 is up 1.9%.
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