Asian stocks mixed, China gains ahead of US price data

Shares are mixed in Asia with Chinese benchmarks pressing higher after a rally in technology companies helped reverse most of an early slide on Wall Street

Shares were mixed in Asia on Wednesday with Chinese benchmarks pressing higher after a rally in technology companies helped reverse most of an early slide on Wall Street.

Hong Kong's Hang Seng rose 1.7% to 19,967.25 and the Shanghai Composite index climbed 1.5% to 3,082.50.

That followed the release of data showing inflation at 2.1% in April in annual terms, up 0.4% over the previous quarter.

Surging inflation is prompting central banks and governments in many countries to rein in support provided to markets and businesses during the height of the pandemic.