Asian shares mixed with China price data offering support

Investing.com - Asian shares traded mixed on Wednesday as signs of low inflation in China fueled hope of more easing measures to help the domestic economy.

The Hang Seng Index was up 0.3% after data showed China's consumer price inflation hitting a four-year low in September. The gauge rose 1.6% year-over-year during the month, the smallest increase since January 2010.

Still, investors on the mainland were apprehensive, sending the Shanghai Composite Index 0.4% lower.

Stocks in S&P/ASX 200 were up 0.4%, helped by miners' gains. BHP Billiton Ltd (ASX:BHP) and Rio Tinto Ltd (ASX:RIO) were both up 0.8%, amid recent strength in the iron-ore market.

The Nikkei 225 was about flat, following five-session losing streak.

Overnight, U.S. stocks ended mixed to higher, giving back much of their gains as falling oil prices battered energy stocks, offsetting positive third-quarter earnings.

The Dow 30 fell 0.04%, the S&P 500 index rose 0.16%, while the NASDAQ Composite index rose 0.32%.

Wall Street has taken a series of blows in recent sessions on fears softening European and Asian economies could slow U.S. business concerns overseas.

By Tuesday, stocks rebounded, though broader indices came off earlier highs later in the session as energy stocks dropped on the coattails of falling oil prices.

The International Energy Agency earlier trimmed its global oil demand forecast for the fourth month in a row earlier, stoking fears that global supplies remain ample while demand cools across the globe.

The agency said it now expected global oil demand for 2014 to total 92.4 million barrels a day, down 200,000 barrels per day from its September report.

The IEA added that it believes that demand growth "may have touched bottom" and should steadily improve, which pushed down energy stocks.