TOKYO, JAPAN – JULY 27: Pedestrians and shoppers walk in the Akihabara area of Tokyo on July 27, 2023. Japan’s core consumer price index rose 3.3% in June, surpassing the US figure for the first time in eight years, as the Bank of Japan held its monetary policy meeting on July 27 and 28. (Photo provided by Tomohiro Osumi/Getty Images)
Tomohiro Osumi | Getty Images News | Getty Images
Asia-Pacific markets opened higher on Friday as several exchanges in the region were closed for the Boxing Day holiday.
Japanese benchmark Nikkei Stock Average The index rose 0.47%, and TOPIX rose 0.27%.
Core consumer prices in the capital Tokyo rose 2.3% in December from the same month last year, according to government data on Friday. Core CPI, which excludes volatile fresh food prices, remains above the Bank of Japan’s 2% target, strengthening the case for further interest rate hikes.
The latest reading was below the 2.5% rise expected by economists polled by Reuters and the 2.8% rise in November. Tokyo’s inflation numbers are widely considered to be a leading indicator of national trends.
South Korea’s Kospi index rose 0.53%, and the small-cap Kosdaq rose 0.42%.
Markets in Australia and Hong Kong were closed for public holidays.
US stock futures rose slightly in early Asian time after the S&P 500 index ended at a new record for the second day in a row on Wednesday US time.
The market-wide index rose 0.32% to close at 6,932.05. The Dow Jones Industrial Average rose 288.75 points, or 0.60%, to a closing high of 48,731.16. The Nasdaq Composite rose 0.22% to settle at 23,613.31.
—CNBC’s Sean Conlon and Pia Singh contributed to this report.
