Asia-Pacific markets largely rebound
Saturday, 30 September 2023
Asia-Pacific markets largely climbed in the final trading day of the week, with Hong Kong's Hang Seng index leading gains in the region and rising 2.67 per cent in its final hour of trade, reports CNBC.
This comes as traders assess to key economic data out of Japan, including the September inflation rate for Tokyo. The capital's data is seen as a leading indicator of nationwide trends.
Tokyo's consumer price index rose 2.8 per cent in September from a year ago, softening from the 2.9 per cent gain in August. The core inflation rate, which strips out prices of fresh food, came in at 2.5 per cent, lower than the 2.6 per cent expected by a Reuters poll.
Japan also saw unemployment, industrial output and retail sales data for August.
Japan's Nikkei 225 fell marginally, extending losses from Thursday to finish at 31,857.62, while the Topix dropped 0.94 per cent and closed at 2,323.29.
In Australia, the S&P/ASX 200 advanced 0.34 per cent to end at 7,048.6, rebounding after a three-day losing streak.
Meanwhile, European markets were higher Friday after ending a five-day losing streak in the previous session.