Japanese Shares Gain After Inflation DataJapanese Shares Gain After Inflation Data
The Nikkei 225 Index rose 0.7% to around 38,300, while the broader Topix Index gained 0.6% to 2,699 on Friday, recovering some losses from recent sessions as investors digested Japan's latest consumer inflation data.
The data revealed that Japan’s headline inflation rate slowed to a nine-month low of 2.3% in October, while core inflation also dropped to a six-month low of 2.3%, slightly above the forecast of 2.2%.
Additionally, a separate report showed that manufacturing activity in Japan contracted more than expected in November, although services activity expanded.
Nearly all sectors participated in the rebound, with significant gains from key index heavyweights such as Lasertec (+1.9%), Tokyo Electron (+2.1%), Mitsubishi UFJ (+1%), Toyota Motor (+0.7%), and Fast Retailing (+1%). However, despite Friday's gains, both the Nikkei and Topix indexes are still on track to end the week lower, currently down 0.8% and 0.5%, respectively.
Source: Trading Economics
