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TOKYO, JAPAN – JULY 27: Pedestrians and shoppers pass through Akihabara district on July 27, 2023 in Tokyo, Japan. Japan’s core consumer price index rose 3.3% in June, surpassing the U.S. figure for the first time in eight years as the Bank of Japan holds its monetary policy meeting on July 27-28. (Photo by Tomohiro Ohsumi/Getty Images)
Tomohiro Ohsumi | Getty Images News | Getty Images
Asia-Pacific markets opened higher on Friday, with several exchanges in the region closed for the Boxing Day holiday.
The reference of Japan Nikkei 225 The index rose 0.47%, driven by gains in real estate and technology stocks, while the Topix rose 0.27%. Among the most successful are video game developers Nexonup 2.17%, and the tech giant SoftBankwhich climbed 2.06%, ending a streak of three losing sessions.
Core consumer prices in Tokyo, the country’s capital, rose 2.3% in December from a year earlier, government data showed Friday. Core CPI, which excludes volatile fresh food costs, remained above the Bank of Japan’s 2% target, strengthening the case for further interest rate hikes.
The latest figure is lower than the 2.5% rise expected by economists polled by Reuters and the 2.8% rise in November. Tokyo’s inflation figures are widely seen as a leading indicator of national trends.
South Korea’s Kospi index added 0.53% and the small-cap Kosdaq rose 0.42%.
Markets in Australia and Hong Kong were closed for the holidays.
U.S. stock futures edged higher in early Asian hours, after the S&P 500 closed at a new record high for the second straight day on Wednesday in the United States.
The broad market index advanced 0.32%, ending the session at 6,932.05. THE Dow Jones Industrial Average gained 288.75 points, or 0.60%, and also posted a closing high of 48,731.16. THE Nasdaq Composite advanced 0.22% and settled at 23,613.31.
— CNBC’s Sean Conlon and Pia Singh contributed to this report.
