The Nikkei 225 Index rose 0.8% to above 37,200 while the broader Topix Index gained 0.6% to 2,733 on Friday, reversing losses from the previous session as investors reacted to the latest inflation report. Japan's headline inflation remained steady at 3.6% in April, but the core inflation rate accelerated more than expected to 3.5%, the highest in over two years. This reinforces expectations that the Bank of Japan will continue tightening monetary policy in response to sustained inflationary pressures. Investor sentiment was also buoyed by falling US Treasury yields, with the benchmark...
Asia-Pacific markets mostly climbed Friday as investors assess a slew of economic data from the region. Japan's benchmark Nikkei 225 rose 1.04% and the Topix climbed 0.89%. South Korea's Kospi rose 0.36% while the small-cap Kosdaq was down 0.34%. Australia's benchmark S&P/ASX 200 was up 0.33%. Hong Kong's Hang Seng index and mainland China's CSI 300 traded flat at the open. The U.S. and China agreed to maintain communication following a call between Chinese Vice Foreign Minister Ma Zhaoxu and U.S. Deputy Secretary Christopher Landau, according to a readout released by the Chinese...
Hong Kong stocks rose 89 points or 0.4% to 23,627 in early trade Friday, swinging from the previous session's drop after the U.S. and China agreed to maintain open communication following a call between Chinese Vice Foreign Minister Ma Zhaoxu and U.S. Deputy Secretary of State Christopher Landau. Sentiment was also lifted by the PBoC's recent move to cut key interest rates, including those at major state-owned banks, in a step expected to prompt smaller lenders to follow suit amid shrinking net interest margins. Gains were broad-based, led by financials, tech, and consumer stocks. For the...