Asia-Pacific markets mixed ahead of Japan elections,Tokyo inflation slows
Asia-Pacific markets were mixed on Friday, with investors awaiting Japan’s general election over the weekend.
Japan also released its October inflation numbers for the capital city of Tokyo on Friday, its last key economic data before the election. The Bank of Japan’s monetary policy meeting is due on Oct. 30 and 31.
Tokyo’s inflation is widely considered a leading indicator of nationwide trends.
The city’s headline inflation rate fell to 1.8% in October from 2.2% the month before, with core inflation — which strips out prices of fresh food — also coming in at 1.8%, down from 2%.
Economists polled by Reuters had forecast the core inflation rate in Tokyo to slow to 1.7% in October.
The city’s headline inflation rate fell to 1.8% in October from 2.2% the month before, with core inflation — which strips out prices of fresh food — also coming in at 1.8%, down from 2%.
Economists polled by Reuters had forecast the core inflation rate in Tokyo to slow to 1.7% in October
The benchmark Nikkei 225 slipped 0.52% after the inflation report, while the Topix was down 0.41%, on pace for a fifth straight day of losses.
In contrast, South Korea’s Kospi gained 1%, and the small-cap Kosdaq rose 0.42%.
Australia’s S&P/ASX 200 started the day up 0.41%.
Futures for Hong Kong’s Hang Seng index stood at 20,420, pointing to a slightly weaker open compared to the HSI’s close of 20,489.62.(Cay)
Source : CNBC
