Asia-Pacific shares were mostly higher as investors look ahead to the U.S. consumer price index report Thursday. Economists expect inflation to have cooled in December, which could signal to the Federal Reserve that previous interest rates hikes have had their intended effects.
The Nikkei 225 inched up 3.82 to 26,449.82.
The Bank of Japan will examine the side effects of monetary easing at its policy meeting next week, local newspaper Yomiuri reported.
The central bank last month widened its yield curve tolerance for 10-year JGBs to 0.5% on either side of its 0% target, up from the previous range of 0.25%.
The Japanese yen last strengthened 0.63% to stand at 131.65 against the U.S. dollar.
In Hong Kong, the Hang Seng forged ahead 78.05 points, or 0.4%, to 21,514.10.
Hong Kong’s property market is set to recover in 2023 — in light of China’s reopening and easing Covid rules, according to property consultancy Colliers Hong Kong. Hong Kong’s property market is set to recover in 2023 — in light of China’s reopening and easing COVID rules, according to property consultancy Colliers Hong Kong.
In the office sector, Grade A office rents will bounce back by 3% this year, it added — thanks to “pent-up demand from Chinese and overseas companies.”
Australian markets perked after the release of the country’s November trade balance.
Australia reported a trade surplus of 13.2 billion Australian dollars (about $9.1 million U.S.) for November, beating a Reuters forecast for AU$10.4 billion.
The November figure also marks an increase from October’s trade surplus of AU$12.74 billion.
CHINA
In Shanghai, the CSI 300 recovered 7.48 points, or 0.2%, to 4,017.87.
China’s consumer price index rose 1.8% in December from a year ago, in line with Reuters’ expectations.
In other markets
In Taiwan, the Taiex faded 19.8 points, or 0.1%, to 14,731.64.
In Korea, the Kospi index eked up 5.57 points, or 0.2%, to 2,365.10.
In Singapore, the Straits Times Index slid 3.73 points, or 0.1%, to 3,267.78.
In New Zealand, the NZX 50 restocked 27.89 points, or 0.2%, to 11,664.88.
In Australia, the ASX 200 gained 85.06 points, or 1.2%, to 7,280.40.
