Asian markets are generally falling; Japan’s inflation eased, but remained above the BOJ target.
Asia-Pacific markets tumbled on Friday as investors evaluated inflation data from Japan and Singapore, as well as AU Jibun bank’s forecasts for Japan’s manufacturing and services activities.
In Japan, the Nikkei 225 fell 1.63% and Topix 1.5%. Japan’s core inflation rate fell slightly to 3.2 percent year-on-year in May, well above the BOJ’s 2 percent target. Core inflation was 3.4 percent in April. The core inflation rate for May was slightly above the 3.1 percent economists had expected.
South Korea’s Kospi fell 0.71 percent and the Kosdaq also saw a 0.12 percent loss.
Australia’s S&P/ASX 200 Index fell another 1.03% on Thursday after its biggest one-day drop in June and two consecutive losses.
Separately, Hong Kong’s Hang Seng index fell 1.68% at the opening as health and technology stocks returned from the public holiday. Mainland Chinese markets are closed on Friday for a public holiday.