Japan stocks scale new peaks after inflation data meets expectations amid mixed Asia markets

Asia-Pacific markets were mixed on Wednesday, with Japan markets hitting new records after inflation data from the country met expectations.

Japan’s Nikkei 225 extended gains from Tuesday to reach a fresh closing high of 41,831.99, while the broad-based Topix gained 0.47% to close at 2,909.2, also a record closing high.

Inflation in China narrowly missed expectations, with the consumer price index posting a 0.2% rise in June, softer than the 0.4% rise expected from economists polled by Reuters and down from 0.3% in May.

The country’s PPI fell 0.8% year on year, in line with expectations and a softer fall of 0.8% from May’s 1.4% decline.

Hong Kong Hang Seng index was up 0.18%, while the mainland Chinese CSI 300 was 0.29% down after the CPI announcement.

Separately, Reuters reported that China’s largest insurer, Ping An Insurance, is considering issuing convertible bonds worth up to $5 billion, according to sources with direct knowledge of the matter.

Japan’s corporate goods price index rose to 2.9% in June from a year earlier, in line with expectations and climbing at a faster pace compared to a revised 2.6% in May. The CGPI measures the price changes of goods traded within the corporate sector.

South Korea’s Kospi was up marginally to 2,867.99, while the small-cap Kosdaq was 0.22% lower and finished at 858.55.

On Wednesday, the National Samsung Electronics Union, the largest workers’ union of electronics giant Samsung Electronics called for an indefinite strike, following news that it was initially going on strike from Monday to Wednesday.

Shares of Samsung Electronics ended Wednesday flat after the announcement.

Separately, South Korean defense manufacturer Hanwha Aerospace announced a 1.38 trillion won ($1 billion) order from Romania to supply K9 howitzers to the country.

Australia’s S&P/ASX 200 was down 0.16%, closing at 7,816.8.

Overnight in the U.S., the S&P 500 climbed to a fresh record, gaining 0.07% to 5,576.98 and marking its 36th record close of the year after dovish comments overnight from U.S. Federal Reserve Chairman Jerome Powell.

Powell signaled caution over leaving interest rates at too high a level, saying that “reducing policy restraint too late or too little could unduly weaken economic activity and employment.”

The Nasdaq Composite added 0.14% to close at 18,429.29, also ending the day at a record. The Dow Jones Industrial Average ticked down 0.13%.

—CNBC’s Brian Evans and Sarah Min contributed to this report.