Asia markets trade mixed, Bank of Japan nominee Ueda speaks; Japan’s inflation reaches 41-year high
Pedestrians walk in front of the Bank of Japan head office building in Tokyo on April 27, 2022. The Bank of Japan maintained ultra-low interest rates on Friday and its guidance to keep borrowing costs at “present or lower” levels, signaling its resolve to focus on supporting the economy’s tepid recovery from the Covid-19 pandemic.
Kazuhiro Nogi | Afp | Getty Images
Asia-Pacific markets traded mixed on Friday as the nominee to lead the Bank of Japan Kazuo Ueda spoke at a confirmation hearing.
The Nikkei 225 ended Friday 1.29% higher at 27,452.48, and the Topix climbed 0.67%. Japan’s core inflation in January rose 4.2%, the highest since 1981.
In Australia, the S&P/ASX 200 rose 0.3% to close at 7,307. South Korea’s Kospi fell 0.63% to end at 2,423.61, while the Kosdaq finshed down 0.56% at 778.88.
Hong Kong’s Hang Seng index was down1.56%, and the Hang Seng Tech Index dropped 3.11%. In mainland China, the Shenzhen Component fell 0.82%, ending Friday at 11,787.45 and the Shanghai Composite was 0.62% lower to end at 3,267.16.
In earnings, OCBC was among the three major Singapore banks that posted a record profit for 2022 alongside DBS and UOB. Singapore’s January manufacturing output fell 2.7% on an annualized basis, in contrast to the expectation of a 2.9% rise.
Overnight in the U.S., stocks closed higher amid volatile trading Thursday as investors remained concerned about the path of the Federal Reserve’s rate hikes.
— CNBC’s Hakyung Kim and Tanaya Macheel contributed to this report.
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