Asian stocks track Wall St gains, Japan’s inflation slows
Asia markets mostly advanced Friday after Wall Street recouped most of the week’s earlier losses and Japan reported slowing inflation, which may keep its ultra-low interest rates steady.
image for illustrative purpose
Hong Kong: Asia markets mostly advanced Friday after Wall Street recouped most of the week’s earlier losses and Japan reported slowing inflation, which may keep its ultra-low interest rates steady. US futures and oil prices were mixed. Tokyo’s Nikkei 225 index climbed 1.3 per cent to 35,940.50. Japan’s inflation slowed for a second straight month, increasing the chance that the Bank of Japan will keep its ultra-low interest rates unchanged at its meeting next week. The country’s annual headline inflation rate has remained above the BOJ’s 2 per cent target since April 2022, with a gradual decline observed from its peak of 4.3 per cent last year to the rate of 2.6 per cent in December that was reported Friday.
Hong Kong stocks were on track for their third consecutive week of losses as investors remain worried about the gloomy economic prospects. The Hang Seng in Hong Kong lost 0.8 per cent to 15,275.00 and the Shanghai Composite index was down 0.3 per cent at 2,838.89.
