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Asia markets mixed after Japan's corporate inflation beats expectations; Nikkei slides further

·1 min

Asia-Pacific markets saw mixed results as Japan’s corporate inflation figures for January exceeded expectations. Japan’s corporate inflation rate for January rose to 0.6%, surpassing the 0.5% expected by economists. This could pave the way for a potential interest rate hike by the Bank of Japan, impacting Japan’s equity markets. Meanwhile, the Nikkei 225 slipped for a second consecutive day, losing 1.12%, while the Topix was down 1.37%. In Australia, the S&P/ASX 200 rebounded and gained 0.26%, while South Korea’s Kospi and Kosdaq also regained ground. Hong Kong’s Hang Seng index looks to continue its gains. Investors are keeping an eye on inflation figures in India and the US, which may provide insight into the timing of interest rate cuts by the Federal Reserve. Overnight in the US, the major indexes ended the session mixed as the tech rally continued to cool. The Dow Jones Industrial Average bucked the trend, adding 0.12%.