Japan CPI, Singapore Q3 GDP
The Tokyo Tower, left, and commercial and residential buildings in Minato district of Tokyo, Japan, on Saturday, Oct. 1, 2022. Photographer: Akio Kon/Bloomberg via Getty Images
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Asia-Pacific markets jumped on Friday, tracking a rally on Wall Street, with the S&P logging gains for a fourth straight day.
Investors in Asia assessed Japan’s October consumer price index data. The core inflation, excluding volatile fresh food prices, rose 2.3% from a year ago, slightly above the estimated 2.2%, according to analysts polled by Reuters. That’s cooler than 2.4% in the previous month.
The overall CPI came in at 2.3%, versus 2.5% in September.
Japan’s Nikkei 225 jumped 0.54% while the broad-based Topix rose 0.51%.
Australia’s S&P/ASX 200 started the day 0.71% higher.
In South Korea, the Kospi added 0.67% while Kosdaq gained 0.47%.
Hong Kong’s Hang Seng index futures were flat compared with the index’s last close of 19,601.11.
Singapore is also set to release its third-quarter GDP data, with growth anticipated to accelerate to 4.6% year on year from 4.1% in the prior quarter, according to LSEG data.
Overnight stateside, the three major indexes rose, on track to close the week higher.
The Dow Jones Industrial Average climbed 462 points, or 1.06%, to finish at 43,270.35, while the S&P 500 gained 0.53% to close at 5,948.71. The tech-heavy Nasdaq Composite edged up 0.03% to end at 18,972.42.
Crude oil prices rose more than 2% after Putin confirmed that Russia had fired a hypersonic intermediate-range ballistic missile into Ukraine and warned that more could follow, the latest in a series of escalations.