Asia Mostly Lower, Tokyo Inflation At 40-Yr. High| MENAFN.COM

Sunday, 04 December 2022 02:10 GMT

Asia Mostly Lower, Tokyo Inflation At 40-Yr. High


(MENAFN- Baystreet.ca) Asia Mostly Lower, Tokyo Inflation at 40-Yr. High






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Shares in the Asia-Pacific were mostly lower as markets in the U.S. were closed for the Thanksgiving holiday and slated to end its session early on Friday.
In Japan, the Nikkei 225 fell 100.06 points, or 0.4%, to end the week at 28,283.03, as the nation's capital city saw the highest core consumer price index reading since 1982.
Tokyo's core consumer price index rose 3.6% in November on an annualized basis, more than the 3.5% expected in a Reuters poll.
The report marks the fastest annual pace Japan's capital has seen since April 1982, and significantly above the Bank of Japan's inflation target of 2%.
The capital's reading indicates higher inflationary pressures have yet to be tamed. Nationwide inflation is hovering around similarly historic levels.
In Hong Kong, the Hang Seng skidded 87.32 points, or 0.5%, to 17,573.58.
Hong Kong-listed stocks related to reopening and technology fell in Asia's morning session following reports of a surge of COVID cases in China.
Shares of casino operator MGM China fell more than 4%, Wynn Macau lost 2.5%, Sands China fell 3%, and SJM Holdings also lost 2.7%.
Technology stocks such as Tencent also dropped more than 3% in the morning session, Meituan lost 3.27% and Bilibili shed 4.4%.
CHINA
In Shanghai, the CSI 300 regained 18.97 points, or 0.5%, to 3,775.78.
China's reported COVID cases continued to rise Thursday. Zhengzhou, where protests took place at Apple supplier Foxconn's iPhone factory, said it would conduct mass testing.
In other markets
In Taiwan, the Taiex docked 5.49 points to 14,778.51.
In Korea, the Kospi index handed over 3.47 points, or 0.1%, to 2,437.86.
In Singapore, the Straits Times Index slid 8.33 points, or 0.3%, to 3,244.55.
In Australia, the ASX 200 gained 17.73 points, or 0.2%, to 7,259.48.
In New Zealand, the NZX 50 recovered 60.85 points, or 0.5%, to 11,382.56.









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