Asia-Pacific markets were mixed on Friday as investors digested Japan’s consumer price index figures for June. The country’s core inflation rate – which strips out costs of fresh food – came in at 3.3%, in line with expectations of economists polled by Reuters, official data showed.
This is slightly higher than May’s figure of 3.2%, and also above the Bank of Japan’s 2% target. The country’s headline inflation rate also came in at 3.3% in June, up from May’s figure of 3.2%.
The Nikkei 225 fell 0.57% to end at 32,304.25, but the Topix was marginally up as the inflation data comes ahead of the BOJ’s closely watched meeting next week for its rate decision.
South Korea’s Kospi rebounded and gained 0.37% to close at 2,609.76 and the Kosdaq advanced 0.32% to mark a nine day winning streak and reach its highest level since April 2022.
Separately, Australia’s S&P/ASX 200 slid 0.15% lower and finished at 7,313.9, dragged mainly by technology services stocks.
Hong Kong’s Hang Seng index climbed 0.71% in its final hour of trade. Mainland Chinese stocks also ended the day all in negative territory, with both the Shanghai Composite and the Shenzhen Component down marginally and closing at 3,167.74 and 10,810.18 respectively
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Source: www.cnbc.com
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