Asian markets mostly rose as data on inflation in the US came in softer than expected.
Asia-Pacific markets rose mostly on Friday after US inflation data came in softer than expected, boosting optimism that inflation could fall without weakening the job market.
While the US producer price index increased less than expected by 0.1 percent year-on-year in June, the core PPI, which excludes food and energy prices, increased by 0.1 percent, again below expectations.
In Australia, the S&P/ASX 200 rose 0.85 percent after the government appointed central bank vice-president Michele Bullock as the next head of the Reserve Bank of Australia, replacing incumbent Philip Lowe.
Japan’s Nikkei 225 rose 0.23 percent, while Topix fell 0.09 percent ahead of May’s industrial production announcement. South Korea’s Kospi rose 1.21%, leading gains in the region, and the Kosdaq advanced.
Hong Kong’s Hang Seng index rose 0.57 percent in the first hour of trading, continuing its rally seen on Thursday. In Mainland China, the Shanghai Composite Index rose 0.15 percent, while the Shenzhen Component Index fell 0.1 percent.
Singapore’s economy grew in the second quarter of the year, avoiding a technical recession. The Straits Times index rose 0.4 percent after the announcement.