Asia Mixed as U.S. Inflation Said Easing

Asia-Pacific markets are trading mixed after the U.S. posted more data that showed inflation was easing.

In Japan, the Nikkei 225 stormed ahead 261.58 points, or 0.9%. to end the week at 29,388.30.

Japanese companies are expected to mark the biggest wage hikes in 31 years with average wages to rise by 3.89% in 2023, according to a Nikkei survey of 308 Japanese companies.

The survey comes after the Bank of Japan in its summary of opinions from its April meeting emphasized the need for a reform in its “economic and wage structures” so that pay increments move in line with economic growth.

In Hong Kong, the Hang Seng dropped 116.55 points, or 0.6%, to 19,627.24, ahead of its first-quarter GDP figures.


In China, the CSI 300 index slid 52.9 points, or 1.3%, to 3,937.76.

China’s foreign minister Qin Gang will visit Australia in July, South China Morning Post reported, citing sources close to the Chinese government.

He would be the most senior Chinese government official to make the visit since 2017. It also follows Australian foreign minister Penny Wong’s meeting in December with her counterpart then-foreign minister Wang Yi in Beijing.

In other markets

In Singapore, the Straits Times index doffed 21 points, or 0.7%, to 3,208.55.

In Korea, the Kospi fell 15.58 points, or 0.6%, to 2,475.42.

In Taiwan, the Taiex index lost 12.28 points, or 0.1%, to 15,502.36.

In New Zealand, the NZX 50 moved ahead 51.09 points, or 0.4%, to 11,938.85.

In Australia, the ASX 200 eked ahead 4.73 points, or 0.1%, to 7,256.65.