The upscale shopping district of Ginza in Tokyo, Japan, on Saturday, May 4, 2024.
Bloomberg | Bloomberg | Getty Images
Asia-Pacific markets traded mixed Friday as investors assess a slew of economic data from the region.
Japan's benchmark Nikkei 225 rose 0.47% to close at 37,160.47 and the Topix climbed 0.68% to close at 2,735.52. South Korea's Kospi traded flat to close at 2,592.09 while the small-cap Kosdaq was down 0.24% to end the trading day at 715.98.
Australia's benchmark S&P/ASX 200 was up 0.15% to close at 8,360.9.
Hong Kong's Hang Seng index and mainland China's CSI 300 traded flat.
The U.S. and China agreed to maintain communication following a call between Chinese Vice Foreign Minister Ma Zhaoxu and U.S. Deputy Secretary Christopher Landau, according to a readout released by the Chinese Foreign Ministry on Friday.
Japan's core inflation accelerated to 3.5% in April, government data showed Friday, bolstered in part by surging rice prices, as the central bank considers pausing its rate-hike stance to assess the effects of U.S. tariffs.
Investors are also parsing South Korea's PPI figures for April and New Zealand's retail sales for the first quarter of the year.
Singapore's core inflation in April grew 0.7% year on year, higher than Reuters' forecast of a 0.5% climb.
U.S. stock futures were little changed as investors continue to evaluate the effect of higher U.S. Treasury yields on the economy. Futures tied to the Dow Jones Industrial Average added 14 points, or 0.03%. Nasdaq 100 futures were marginally lower, while S&P 500 futures ticked up 0.03%.
Overnight stateside, the three major averages closed mixed as investors grappled with fears of rising rates and worries about a ballooning U.S. deficit. The 30-year Treasury yield hit its highest since 2023 as lawmakers passed a bill that investors fear could worsen the U.S. deficit.
The Dow Jones Industrial Average slipped 1.35 points, closing at 41,859.09. The S&P 500 lost 0.04% and ended at 5,842.01, while the Nasdaq Composite advanced 0.28% and settled at 18,925.73.
— CNBC's Lisa Kailai Han and Yun Li contributed to this report.
Kazakhstan aims to be a gateway for trade in Central Asia: Astana International Financial Center governor
Kazakhstan aims to be the gateway for trade between the East and the West, said Renat Bekturov, governor of the Astana International Financial Center.
"In the modern world, with the tariffs, and then there's the geopolitical tensions, businesses need a point of stability, and we need a place where the East and West can connect," Bekturov told CNBC's Emily Tan on "The China Connection" Thursday.
"In the region, there are no other analogies. Other financial centers close by are in the Gulf region," Bekturov added.
He noted that trading growth on the Astana International Exchange has been "tremendous."
"In 2024, the trading volume achieved 1.3 billion dollars per year, actually still small. However, this is twice more than in the previous five years."
—Oliver Walker, Neha Hegde
India's SEBI looking into secondary listings via instruments like depository receipts
Chairperson of the Securities and Exchange Board of India (SEBI) Tuhin Kanta Pandey said that "some proposals" are in the works for more secondary listings via instruments like depository receipts.
When asked for more details, Pandey told CNBC's Sri Jegarajah that there is a "preliminary proposal" at the moment.
SEBI is also trying to make it easier for foreign investors to invest in Indian equities by continuing with its Foreign Portfolio Investor (FPI) outreach cell, which is geared at actively engaging with FPIs and assisting them in navigating the Indian securities market.
—Lee Ying Shan
China says U.S. dialogue to continue as China hints trade talks are advancing
The U.S. and China have agreed to maintain communication following a call between Chinese Vice Foreign Minister Ma Zhaoxu and U.S. Deputy Secretary Christopher Landau on Thursday, according to a readout released by the Chinese Foreign Ministry on Friday.
Both sides exchanged thoughts on crucial issues during the call, the statement said, without elaborating.
Read the full story here.
Correction: This story has been updated to reflect the call was with U.S. Deputy Secretary of State Christopher Landau.
—Anniek Bao
There's a lower likelihood of U.S. and Japan trade deal by mid-June, says Eurasia Group
The likelihood of the U.S. and Japan finalizing a comprehensive trade agreement by the G7 Summit in Canada in mid-June has dropped from 65% to 55%, Eurasia Group's director of Japan and Asian trade David Boling and team said in a note.
Although the leaders of both countries have strong incentives to reach a deal sooner rather than later, Eurasia Group's analysts noted that "the pace of negotiations is lagging as the U.S. tariff on Japanese automobiles remains a sticking point."
"However, if the U.S. agrees to negotiate over the automobile tariff with Japan, the chances of a deal will improve," said Boling.
—Lee Ying Shan
Japan's core inflation climbs to 3.5%, highest in more than 2 years
Japan's core inflation accelerated to 3.5% in April, government data showed on Friday, as persistent cost pressure strengthens the case for the central bank to focus on exiting its decade-long ultra-easy monetary policy.
The core inflation figure, which strips out prices for fresh food, was higher than expectations of 3.4%, according to economists polled by Reuters, marking the highest level since January 2023, according to LSEG data.
Headline inflation climbed 3.6% from a year ago, staying above the Bank of Japan's 2% target for more than three years, steady from the prior month.
Read the full story here.
—Anniek Bao
South Korea producer prices climb at slower rate in April
South Korea's September producer prices in April slowed to 0.9% year-on-year, compared to 1.3% in March.
On a monthly basis, the PPI fell 0.1% after two consecutive months of no change.
The producer price index tracks the changes in prices between producers, compared to the consumer price index, which tracks changes in consumer prices.
—Lee Ying Shan
S&P 500 closes little changed
The S&P 500 closed little changed on Thursday afternoon.
The market benchmark slipped 0.04% to close at 5,842.01. The Dow Jones Industrial Average shed about 1 point and finished at 41,859.09. The Nasdaq Composite, on the other hand, added 0.28% to settle at 18,925.73.
— Lisa Kailai Han
Citi expects growth to weaken in second half of 2025
Citi is seen on the floor of the New York Stock Exchange on March 3, 2025.
NYSE
Citi expects a worst economic outlook for the second half of the year.
The bank attributed this partially to U.S. consumers and firms frontloading their spending to get ahead of tariffs.
"As the full effects of the tariffs come online — likely over the next few months — demand could face a double blow. The tariffs could reduce real purchasing power, and in addition, frontloaded purchases will be 'paid back,'" global chief economist Nathan Sheets wrote in a Wednesday note. "As such, we view the current period as still the 'calm before the storm,' and we expect growth in the second half of the year to weaken."
— Lisa Kailai Han
English (US) ·