In Tokyo’s bustling Akihabara district, people navigate busy streets as Asia-Pacific markets experienced a mostly downward trend on Friday. Investors are digesting the latest inflation data from Tokyo alongside South Korea’s industrial production figures. Tokyo’s headline inflation rate for November climbed to 2.6%, recovering from 1.8% in October. Core inflation, excluding fresh food prices, increased to 2.2%, surpassing the Reuters expectation of 2.1%. These figures from Japan’s capital are often seen as a predictor of the country’s overall inflation trends.
In South Korea, industrial production rose by 2.3% year-on-year in October, reversing a 1.3% decline in September. Despite this positive development, the Kospi index fell by 1.74%, while the smaller Kosdaq dropped 1.75%. Japan’s Nikkei 225 index decreased by 0.59% after the inflation data release, and the Topix index saw a 0.35% decline.
Australia’s S&P/ASX 200 index also fell, decreasing by 0.35%. Meanwhile, Hong Kong’s Hang Seng index defied the regional downtrend with an early trade gain of 0.21%, while China’s CSI 300 was slightly down. It’s important to note that U.S. markets were closed for Thanksgiving on Thursday and reopened for a half-day on Friday.
Overall, the market movements reflect the latest economic data releases, with Tokyo’s inflation figures dominating investor sentiment in Japan, while South Korea’s industrial production provided a mixed view. As the region navigates these figures, investors remain cautious, adjusting their strategies accordingly in response to economic indicators and global market closures.
Original Story https://www.cnbc.com/2024/11/29/asia-markets.html
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