Tokyo Tower, left, and commercial and residential buildings at night in the Minato district of Tokyo, Japan, on Saturday, October 1, 2022. Photographer: Akio Kon/Bloomberg via Getty Images
bloomberg | bloomberg | Getty Images
Asia-Pacific markets were mixed on Friday after more inflation data from the United States came in less than expected, adding to optimism that inflation could decline without weakening the labor market.
The US PPI in June rose less-than-expected, rising 0.1% year-on-year, while core PPI, which excludes volatile food and energy prices, rose 0.1% – also less than forecast.
Australia S&P/ASX 200 It rose 0.26% after the government appointed Deputy Central Bank Governor Michelle Bullock as the new Governor of the Reserve Bank of Australia, succeeding the incumbent Philip Lowe.
in Japan , Nikkei 225 index It reversed previous gains and fell 0.3%, while Topix fell 0.5% ahead of the May industrial production release. South Korea’s Kospi Index rose 0.78% while the KOSDAQ Index declined.
Hong Kong’s Hang Seng Index rose 0.95% in the first hour of trading, extending the rally seen on Thursday. In China, the Shanghai Composite fell partially and the Shenzhen component gained 0.12%.
Singapore’s economy grew in the second quarter of the year, avoiding a technical recession. the Straits Times Index It rose 0.5%.
Overnight in the United States, all three major indices posted gains for the fourth day in a row, with the S&P 500 and Nasdaq Composite closing at their highest levels in more than a year.
The S&P 500 rose 0.85%, while the Dow Jones Industrial Average gained 0.14%. The Nasdaq Composite was the biggest gainer, up 1.58%.
— CNBC’s Hakyung Kim and Samantha Subin contributed to this report
“Devoted student. Bacon advocate. Beer scholar. Troublemaker. Falls down a lot. Typical coffee enthusiast.”