Asia-Pacific markets were mixed as investors assessed key economic data from Japan on Friday.
The world’s third largest economy saw its core inflation rate rise to 2.9% in October, higher than the 2.8% seen in the month before. The headline inflation rate came in at 3.3%, accelerating from the 3% seen in September.
Japan’s Nikkei 225 climbed as investors returned after a public holiday, gaining 0.52% to hit its highest level since July 3, while the Topix advanced 0.54% to end at 2,390.94.
In Australia, the S&P/ASX 200 rose 0.17% to close at 7,040.8. South Korea’s Kospi slid 0.73%, finishing at 2,496.63 and snapping a four-day winning streak, while the small-cap Kosdaq declined 0.12% to 815.0.
Hong Kong’s Hang Seng index plunged 1.93% in the final hour of trading, while the mainland Chinese CSI 300 benchmark index closed 0.66% lower at 3,538.01.
U.S. markets were closed for Thanksgiving on Thursday, but will come back for a half day of trading on Friday.
Futures tied to the three major indexes were all up marginally, with futures for the Dow Jones Industrial Average 0.09% higher.
Meanwhile, S&P 500 futures climbed 0.08%, and the Nasdaq Composite futures gained 0.1%.
Indonesian rupiah dips a day after central bank holds interest rates
The Indonesian rupiah dipped 0.10% to 15,565 against the dollar on Friday, a day after the country’s central bank kept its rates steady, as expected.
Bank Indonesia left its benchmark 7-day reverse repurchase rate at 6%, meeting expectations of economists polled by Reuters.
The central bank said that its current rates were enough to hold inflation steady in the next two years, despite rupiah volatility.
Last month, BI surprised markets with a rate hike to stem the rupiah’s decline and boost investor confidence.
“Governor Warjiyo’s remarks that he sees a lower probability of a U.S. Fed rate hike in Decemeber lowers the likelihood of another increase in Indonesia’s policy rates, prodding us to remove our call for a last hike in Dec,” DBS analysts wrote in a client note.
“This will see the current hike cycle peak at 6%.”
The rupiah is down nearly 2% so far this year.
Source : CNBC