Markets in the Asia-Pacific traded higher on Friday as investors digested Japan’s inflation data. The nationwide core consumer price index rose 4% in December on an annualized basis, the fastest pace since 1981.
In Japan, the Nikkei 225 recaptured 148.3 points, or 0.6%, to 26,53.6. The yield on the 10-year Japanese Government Bond slightly fell 0.386%, falling furthercnb below the central bank’s upper ceiling of its tolerance range.
In Hong Kong, the Hang Seng jumped 393.67 points, or 1.8%, to 22,044,65.
CHINA
In Shanghai, the CSI 300 acquired 25.52 points, or 0.6%, to 4,181.63.
The number of Chinese travelers into Singapore will not reach pre-pandemic levels in 2023 despite China’s reopening and a surge of travel happening in the region, according to one expert.
Still, Singapore’s hospitality and luxury goods sector will benefit from Chinese travelers who can afford the higher prices on airfares and hotels.
The city-state’s conference industry is also expected to benefit from China’s reopening as more business travelers will come down for events and conferences.
In other markets
Markets in Taiwan remained shuttered for holiday.
In Korea, the Kospi index advanced 14.92 points, or 0.6%, to 2,395.26.
In Singapore, the Straits Times Index gained 17.53 points, or 0.5%, to 3,293.71.
In New Zealand, the NZX 50 restocked 91.84 points, or 0.8%, to 11,977.48.
In Australia, the ASX 200 moved ahead 16.85 points, or 0.2%, to 7,452.16.