Pedestrians cross an intersection in the Shibuya district of Tokyo, Japan, on Tuesday, April 25, 2023. Photographer: Kentaro Takahashi/Bloomberg via Getty Images
Bloomberg | Bloomberg | Getty Images
Asia-Pacific markets were mixed as Japan’s May core inflation data came in slightly cooler than expected.
The country’s core inflation rate — which strips out prices of fresh food — came in at 2.5%. A Reuters poll of economists expected the May core inflation reading to come in at 2.6%, compared to April’s 2.2%.
The so-called “core-core” inflation, which strips out prices of fresh food and energy, came in at 2.1%. This is lower than April’s reading of 2.4%. The metric is considered by the Bank of Japan when formulating the country’s monetary policy.
Japan’s headline rate rose to 2.8%, higher than April’s figure of 2.5%.
Japan’s Nikkei 225 started the trading day close to the flatline, while the broad-based Topix gained 0.52%.
South Korea’s Kospi slipped 0.44%, while the small-cap Kosdaq saw a bigger loss of 0.5%.
Australia’s S&P/ASX 200 inched up marginally.
Hong Kong Hang Seng index futures were at 18,202, lower than the HSI’s last close of 18,335.32.
Overnight in the U.S., the S&P 500 closed 0.25 % lower after hitting a new high. The Nasdaq Composite dipped 0.79%, while the Dow Jones Industrial Average climbed 0.77%. Chipmaker Nvidia slipped 3.5% after rising earlier in the trading day.
—CNBC’s Samantha Subin and Brian Evans contributed to this report.
