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Asia-Pacific markets mostly rise

May 27, 2023 00:00:00

Asia-Pacific markets mostly gained on Friday after Wall Street saw a tech rally led by Nvidia, and US negotiators moved closer to a debt ceiling deal with just a week to go before the government faces a potential default, reports CNBC.

In Japan, the Nikkei 225 rose 0.31 per cent to end the day at 30,916 after surpassing the 31,000 mark earlier in the day. The Topix fell marginally and recorded its fourth straight days of losses.

Tokyo's core inflation, which excludes fresh food and fuel costs, rose by 3.9 per cent, its fastest pace since 1982. The consumer price index for Japan's capital, which is seen as a gauge for the nationwide reading, rose at a slower pace of 3.2 per cent in May from April's figure of 3.5 per cent.

South Korea's Kospi rose 0.16 per cent to end at 2,558.81, reversing losses from Thursday, while the Kosdaq was down 0.53 per cent and finished at 843.23.

Mainland Chinese markets were all higher, with the Shanghai Composite ending three straight days of losses to close 0.35 per cent higher at 3,212.5.

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