Shares in the Asia-Pacific jumped on Friday, taking the lead from Wall Street overnight as investors shook off a strong inflation report.
The Nikkei 225 raced 853.34 points, or 3.3%, higher to end the week at 27,090.76.
Japan’s yen plunged to its lowest levels against the U.S. dollar since 1990 overnight before paring losses, and is still trading at 147-levels.
In Hong Kong, the Hang Seng restocked 198.58 points, or 1.2%, to 16,587.69.
Singapore’s GDP grew 4.4% in the third quarter and is expected to further tighten its monetary policy.
Shares of Taiwan Semiconductor Manufacturing Company jumped as much as 5.31% after its earnings topped estimates, with third-quarter net profits surging almost 80% from a year ago.
The Apple supplier’s net income rose to 280.9 billion new Taiwan dollars ($8.81 billion U.S.) for the July-September quarter – compared with 156.26 billion new Taiwan dollars for the same period in 2021.
TSMC’s stock was last up 4.94%
CHINA
In Shanghai, the CSI 300 recovered 89.8 points, or 2.4%, to 3,842.47
China’s September consumer price index grew annually at 2.8%, the fastest pace since April 2020, pushed higher by food costs. Food prices rose by 8.8% annually.
The nation’s CPI rose by 0.3% in September from August, missing estimates of 0.4% in a Reuters poll.
In other markets
In Singapore, the Straits Times Index eased back 0.84 points to 3,039.61.
In Taiwan, the Taiex climbed 317.39 points, or 2.5%, to 13,128.12
In Australia, the ASX 200 jumped 116.22 points, 1.8%, to 6,758.83.
In New Zealand, the NZX 50 recouped 50.61 points, or 0.5%, to 10,868.09.
