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Asia markets mostly fall

Saturday, 22 June 2024


Asia-Pacific markets mostly fell on Friday after Japan's May core inflation data came in slightly cooler than expected, jeopardising the country's plans to raise interest rates, reports CNBC.
The country's core inflation rate -- which strips out prices of fresh food -- came in at 2.5 per cent.
Japan's Nikkei 225 dipped 0.09 per cent, ending the day at 38,596.47. The broad-based Topix dropped to 2,724.69.
Softbank -- the third heaviest weighted stock on the index -- saw shares drop 3.14 per cent after Softbank Group CEO Masayoshi Son said the company needed "immense capital" to develop AI robotics.
The yen weakened for a seventh straight day, declining to 158.95 against the US dollar.
India's benchmark Nifty 50 index dropped 0.5 per cent, after hitting a fresh record high earlier in the day.
HSBC flash Composite Purchasing Managers' Index for India rose to 60.9 in June from 60.5 in May. The data complied by S&P Global showed that growth was stronger at goods producers compared to service providers.
South Korea's Kospi fell 0.83 per cent, finishing the day at 2,784.26, while the small-cap Kosdaq lost 0.56 per cent to end at 852.67.
Mainland China's CSI 300 dipped 0.22 per cent to close at 3,495.62, marking a third straight day of losses and hitting its lowest level since April 12, while Hong Kong's Hang Seng index declined 1.52 per cent as of its final hour of trading.