Asia-Pacific markets rose on Friday after more inflation data out from the U.S. came in softer than expected, raising optimism that inflation could come down without weakening the labour market.
In Japan, the Nikkei 225 tailed off 28.07 points, or 0.1%, to 32,391.26, as investors digested its industrial production release for May. On a weekly basis, the Nikkei was mostly flat.
In Hong Kong, the Hang Seng gained 63.16 points, or 0.3%, to 19, 413.78.
South Korea’s Kospi rose to lead gains in the region, and is the Kospi is close to its 2023 high of 2,641.16.
Singapore’s market rose marginally. Singapore’s economy grew 0.7% in the second quarter of the year, avoiding a technical recession. The Straits Times index rose 0.26% after the release.
Australian markets rose to cap off a whole week of gains, after the government appointed its central bank deputy governor Michele Bullock as the next governor for the Reserve Bank of Australia, to succeed incumbent Philip Lowe.
Markets in New Zealand were closed for holiday.
In China, the CSI 300 eked ahead 0.68 points to 3,899.10.
In Singapore, the Straits Times Index moved forward 10.17 points, or 0.3%, to 3,248.63.
In Korea, the Kospi Index added 37.07 points, or 1.4%, to 2,628.30.
In Taiwan, the Taiex index popped 222.31 points, or 1.3%, to 17,283.71.
In Australia, ASX 200 climbed 56.17 points, or 0.8%, to 7,303.08.