Asia markets fall as Japan’s inflation data reaches highest since 1981
People walk down a street in the Chinatown section of Yokohama, Kanagawa prefecture, south of Tokyo, on January 7, 2023.
Philip Fong | Afp | Getty Images
Markets in the Asia-Pacific were set to trade lower on Friday as investors digested Japan’s core inflation print, which reached the fastest pace since December, 1981.
The Nikkei futures contract in Chicago was at 26,360 while its counterpart in Osaka was at 26,320 against the Nikkei 225’s last close at 26,405.23. The yield on the 10-year Japanese Government Bond rose to stand at 0.415%, slightly below the central bank’s upper ceiling of its tolerance range.
In Australia the S&P/ASX 200 fell 0.11% in its first hour of trade.
China’s 1-year and 5-year loan prime rates are set to be announced later in the day, while inflation data for Malaysia and Hong Kong will also be closely watched.
Stocks on Wall Street fell Thursday as investors grew increasingly concerned the Federal Reserve will keep raising rates despite signs of slowing inflation. The Dow Jones Industrial Average posted saw the third straight negative session, giving up gains from a short-lived new year’s rally.
— CNBC’s Tanaya Macheel, Samantha Subin contributed to this report
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