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(Sharecast News) - Asian shares were mixed on Friday as investors remained wary of geopolitical tensions driven by the US and also assessed China inflation data and a potential tie up between mining giants Rio Tinto and Glencore.
Shanghai's Composite Index closed 0.92% higher at 4,120 after China's inflation rose at its quickest the pace in almost three years, driven by higher food prices, but weak factory gate deflation remained, highlighting weak underlying demand.
The consumer-price index rose 0.8% year on year, in line with forecasts and the biggest rise since February 2023. However, 2025 CPI was zero, and well below the official target of 2%, according to data published by the National Bureau of Statistics.
Inflation was driven by an increase in fresh vegetable prices, up 18.2% from a year earlier due to supply shortages during the cold winter. Pork prices fell 14.6%.
Core inflation, which excludes volatile food and energy prices, rose 1.2% year on year - unchanged from November.
Producer prices fell 1.9% year on year, better than forecasts of a 2% decline, and extending the deflationary streak beyond three years. The fall also compared with a 2.2% decrease in November.
In other markets, the Hong Kong Hang Seng index gained 11% on the day to 26,179, South Korea's Kospi finished 0.75% higher at 4,586.
Australia's ASX 200 slipped 0.03% to 8,717. Rio Tinto shares fell more than 5% after the mining giant announced late Thursday it was in early-stage buyout talks with Glencore. A successful merger would create a mining giant valued at nearly $207bn.
Japan's Nikkei jumped 1.6% to 51,937, with shares in Uniqlo operator Fast Retailing surging more than 7% after the company raised its full-year forecast after quarterly operating profit jumped by 33%.
The company cited strong global sales that helped offset the impact of US tariffs and said it was still well placed to produce its fifth straight year of profit growth, supported by stronger sales in China and rapid expansion in North America and Europe.
Reporting By Frank Prenesti for Sharecast.com