The Nikkei declined 0.73%, the Hang Seng index slid 0.33%, the CSI 300 was slightly higher, while Australia’s S&P/ASX 200 jumped 0.18%
Asia-Pacific markets were mixed on Thursday after a sell-off in the previous session, with Nikkei 225 and Kospi among the major losers.
The Nikkei declined 0.73%, while the broad-based Topix was slightly higher, after the release of Japan’s July wage data.
Average monthly cash earnings in the country rose 3.6% year-on-year, a softer rise compared to the 4.5% jump seen in June.
Real wages jumped 0.4% year on year, increasing for a second consecutive month after a 1.1% rise in June.
The strong pay report offers the Bank of Japan (BoJ) more room for a rate hike, which could put pressure on equities.
Bank of Japan board member Hajime Takata said the central bank “must keep raising rates if it can confirm that companies will continue to increase spending and wages,” Reuters reported.
Other economic data coming include retail sales numbers from Singapore.
The Hang Seng index slid 0.33%, while the mainland Chinese CSI 300 was slightly higher.
Shares of some Chinese developers edged up on optimism that the country was reportedly considering a two-phase cut in interest rates to boost its embattled property sector. Hong Kong-listed China Vanke gained 1.5%, while Logan Group rose 1.32%.
On Wednesday, China’s financial regulators proposed a cut in interest rates of up to $5.3 trillion worth on outstanding mortgages to lower borrowing costs for millions, while easing pressure on its banking sector, Bloomberg reported, citing sources familiar with the matter.
South Korea’s Kospi declined slightly, while the small cap Kosdaq was down 1%. Shares of SK Hynix gained 3.36%. The South Korean chipmaker is set to start mass producing HBM3E 12-layer chips by the end of September, the firm’s president and head of AI Infra division reportedly said on Wednesday.
Australia’s S&P/ASX 200 jumped 0.18%. Exports from the country in July rose 0.7% month-on-month while imports slid 0.8% compared to last month.
