China stocks led declines in Asia-Pacific markets on Friday, after key Wall Street benchmarks fell overnight as investors digested a sticky U.S. inflation report.
In Japan, the Nikkei 225 index jumped 224.91 points, or 0.6%, to 39,605.80.
In Hong Kong, markets were shuttered for holiday.
Investors in Asia also assessed a rate decision from the Bank of Korea, with the BOK cutting its benchmark interest rate by 25 basis points to 3.25%, its first rate cut since 2020. The decision marks the end of a multi-year tightening cycle that sent the rates to a 15-year high in 2023.
The decision comes as inflation in South Korea eased to 1.6% in September, the lowest level since early 2021 and below the central bank’s medium-target of 2%.
CHINA
In Shanghai, the CSI 300 dived 110.62 points, or 2.8%, to 3,887.17, ending the week 3.25% lower, as a stimulus-fueled rally continues to lose steam.
China’s Ministry of Finance is scheduled to hold a press conference on Saturday 10 a.m. local time. The highly anticipated briefing session is expected to unveil fresh fiscal stimulus package as Beijing attempts to boost its economy. It will be a working day in China on Saturday but markets will be closed.
In other markets
In Taiwan, the Taiex returned to trading Friday with a gain of 242.56 points, or 1.1%, to 22,901.64
In Korea, the Kospi index dipped 2.25 points, or 0.1%, to 2,596.91.
In Singapore, the Straits Times Index docked 11.53 points, or 0.3%, to 3,573.76.
In New Zealand, the NZX 50 restocked 91.06 points, or 0.7%, to 12,845.64
In Australia, the ASX 200 subtracted 8.47 points, or 0.1%, to 8,214.51.