Nikkei 225 gained 0.3%, the Topix jumped 0.37%, Hang Seng index added 1.81%, CSI 300 advanced 1.72%, Kospi added 0.6%, the Kosdaq gained 0.92% and S&P/ASX 200 increased 0.35%
Asia-Pacific markets jumped Friday after economic data from the U.S. calmed recessionary concerns, while investors also assessed a slew of data from Japan.
Initial jobless claims in the U.S. fell to 231,000 from the prior week’s 232,000, but were slightly higher than the 230,000 expected by Dow Jones.
In addition, the second-quarter gross domestic product (GDP) growth was revised higher to 3% from the initial 2.8% rate.
Inflation rate in Japan’s capital city of Tokyo rose to 2.6% in August from July’s 2.2%, reaching its highest since March.
The core inflation rate — which strips out prices of fresh food — gained 2.4%, higher than the 2.2% expected from a Reuters poll of economists. Tokyo’s inflation is widely considered to be a leading indicator of nationwide trends.
Stronger inflation figures offer the Bank of Japan (BoJ) more room to tighten its monetary policy.
Unemployment in Japan rose to 2.7% in July, more than the Reuters estimate of 2.5%.
July retail sales in the country rose 2.6% year on year, lower than the 2.9% growth expected by Reuters and the revised 3.8% increase seen in June.
Japan’s Nikkei 225 gained 0.3%, and the Topix also jumped 0.37% after the data release.
Hong Kong Hang Seng index added 1.81%, leading markets in Asia, while mainland China’s CSI 300 advanced 1.72%.
South Korea’s Kospi added 0.6%, while the small-cap Kosdaq gained 0.92%. South Korea’s retail sales slipped 1.9% month on month compared to June. On a year-on-year basis, retail sales declined 2.1%.
Australia’s S&P/ASX 200 increased 0.35%, coming within 30 points of its all-time closing high of 8,114.7.
