Markets in Asia Mixed Following Japan Inflation - InvestingChannel

Markets in Asia Mixed Following Japan Inflation

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%.

In Japan, the Nikkei 225 index slumped 186.27 points, or 0.6%, to 32,304.25, as the inflation data comes ahead of the BOJ’s closely watched meeting next week for its rate decision.

In Hong Kong, the Hang Seng revived 147.24 points, or 0.8%, to 19,075.26.

Australian markets fell, dragged mainly by technology services stocks.

In other markets

In China, the CSI 300 sank 1.78 points, or 0.1%, to 3,821.91.

In Singapore, the Straits Times Index eked up 3.92 points, or 0.1%, to 3,278.30.

In Korea, the Kospi Index jumped 9.53 points, or 0.1%, to 2,609.76.

In Taiwan, the Taiex index faded 134.19 points, or 0.8%, to 17,030.70.

In New Zealand, the NZX 50 recovered 8.33 points, or 0.1%, to 11,940.44.

In Australia, ASX 200 slid 11.16 points, or 0.2%, to 7,313.89.

Related posts

Advisors in Focus- January 6, 2021

Gavin Maguire

Advisors in Focus- February 15, 2021

Gavin Maguire

Advisors in Focus- February 22, 2021

Gavin Maguire

Advisors in Focus- February 28, 2021

Gavin Maguire

Advisors in Focus- March 18, 2021

Gavin Maguire

Advisors in Focus- March 21, 2021

Gavin Maguire