Asia Mostly Down On China Rate Decision

12/20/2024 8:11:15 AM

(MENAFN- Baystreet) Asia-Pacific markets mostly fell on Friday as investors digest inflation data out of Japan, as well as an interest rate decision out of China.
In Japan, the NIKKEI 225 index retreated another 111.68 points, or 0.3%, to 38,701.90.
Japan released its November inflation numbers, a day after the bank of Japan held rates at 0.25%.
The core inflation rate in the country - which strips out prices of fresh food - came in at 2.7%, slightly higher than the 2.6% expected from economists polled by Reuters
Headline inflation came in at 2.9%, higher than the 2.3% seen in October.
In Hong Kong, the Hang Seng dropped 31.81 points, or 0.2%, to 19,702.70.
Australian markets fell to their lowest closing level since September.
CHINA
In Shanghai, the CSI 300 slid 17.72 points, or 0.5%, to 3,927.74.
The People's Bank of China held its loan prime rates steady on Friday, leaving the one-year rate unchanged at 3.1% and the five-year rate at 3.6%.
The one-year LPR influences corporate loans and most household loans in China, while the five-year LPR serves as a benchmark for mortgage rates.
In other markets
In Taiwan, the Taiex stumbled 422 points, or 1.8%, to 22,510.25
In Korea, the Kospi index dipped 31.78 points, or 1.3%, to 2,404.15
In Singapore, the Straits Times Index fell 42.95 points, or 1.1%, at 3,719.93
In New Zealand, the NZX 50 gained 149.96 points, or 1.2%, to 12,904.41.
In Australia, the ASX 200 faltered 101.26 points, or 1.2%, to 8,066.96.

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