Shares in the Asia-Pacific rose Tuesday as Japan’s inflation accelerated and China kept its loan prime rate on hold. Investors are also looking ahead to the Federal Reserve meeting in the U.S.
In Tokyo, the Nikkei 225 index returned to trading after a long weekend and gained 120.77 points or 0.4%, to 27,688.42
Core inflation in Japan increased 2.8% from a year ago, the fastest rate of increase since late 2014. China’s loan prime rate was left unchanged Tuesday, in line with predictions in a Reuters poll.
In Hong Kong, the Hang Seng index recovered 215.45 points, or 1.2%, to 18,781.42.
Hong Kong shares of technology companies gained in Asia’s morning trade, with Alibaba rising 3.9%, JD.com advancing 3.9% and Baidu adding 2.8%, after Chief Executive John Lee said the government plans to announce changes to the city’s hotel quarantine rules for travelers.
Casino stocks also rose — Sands China rose 6.6% and Galaxy Entertainment gained 3.9%.
CHINA
In Shanghai, the CSI 300 restocked 4.84 points, or 0.1%, to 3,932.84
The People’s Bank of China kept its one-year and five-year loan prime rates (LPR) unchanged, in line with predictions in a Reuters poll.
The one-year loan prime rate remains at 3.65%, and the five-year rate closely tied to home mortgages stands at 4.3%. China cut both those rates last month.
In other markets
In Singapore, the Straits Times Index revived 10.63 points, or 0.3%, to 3,266.94.
In Korea, the Kospi index regained 12.19 points, or 0.5%, to 2,367.85.
In Taiwan, the Taiex sprang back up 123.62 points, or 0.9%, to 14,549.30
In Australia, the ASX 200 jumped 86.51 points, or 1.3%, to 6,806.43.
In New Zealand, the NZX hiked 38.44 points, or 0.3%, to 11,570.43.
