Chinese inflation data boosts Asian markets

Chinese and wider Asia stock markets were boosted today by better than expected inflation data from China.

China's consumer price index for March rose 2.1% from the the previous year, lower than the 2.4% analysts' prediction and a considerable fall from 3.2% in February. The Shanghai Composite index added 0.5% to 2,221.84 following the announcement and the Hang Seng surged 2.1%. Other markets also extended the previous day's gains on Tuesday - Australia's S&P rallied 1.1% and Korea's Kospi inched 0.11% higher. Japan's Nikkei was up another 0.18% to 13,214, nearing its highest close since August 2008, as the yen tumbled to a four-year low of 98.67 per US dollar yesterday. The index close...