Asia report: Markets higher as Japan deflation slows
Markets in Asia finished higher on Friday, after US benchmarks reached record highs overnight and with positive inflation data coming out of Japan.
AUD/USD
$0.6695
02:01 18/05/24
GBP/NZD
NZD2.0705
23:53 17/05/24
Hang Seng
19,553.61
10:20 17/05/24
Nikkei 225
38,787.38
09:43 17/05/24
USD/JPY
¥155.6395
02:01 18/05/24
The Nikkei 225 in Japan finished up 0.34% at 19,467.40, after data was released showing core consumer prices fell 0.2% in Japan during December.
That was the smallest fall in prices in the country since last February.
Toshiba shares surged 1.01% after the company confirmed it was to spin out its memory chip division, and seek partners to invest in it.
It was also going to reveal just how much it had written down its acquired Westinghouse nuclear plant development business in its third quarter results on 14 February.
The yen was weaker against the greenback, last moving 0.39% behind at JPY 114.98 per $1.
In Hong Kong, the Hang Seng Index - which was open for a half-session, lost 0.06% to 23,360.76.
China, South Korea, Taiwan and Vietnam were all closed for public holidays.
The Mexican peso fell more than half a percent during Asian trading, after the White House suggested it would impose a 20% tariff on imports from Mexico to pay for the controversial wall President Trump wants to build along the southern US border.
“Regionally, it is hard to divorce ourselves from the Mexico storyline,” noted Oanda senior trader Stephen Innes.
“How that plays out could have far-reaching ramifications locally.”
Oil prices were higher during the Asian session, but moved lower as Europe took the baton, with Brent crude down 0.99% at $55.69 per barrel and West Texas Intermediate off 0.67% at $53.42.
Australia’s S&P/ASX 200 finished 0.75% higher to 5,713.99, with the weighty financials subindex underpinning the gains by 1.3%, with staples also growing 1.56%.
Across the Tasman Sea, the S&P/NZX 50 improved 0.3% to 7,134.26, led higher by Vista Group, which powered ahead by 3.1%, while Fisher & Paykel Healthcare was the worst performer, losing 3.1%.
The down under dollars were mixed, with the Aussie precisely flat at AUD 1.3273 per $1 and the Kiwi 0.1% stronger at NZD 1.3789 against the greenback.