[ad_1]
Commercial and residential buildings at dusk in the Minato district of Tokyo, Japan.
Bloomberg | Bloomberg | Getty Images
Asia-Pacific markets were mixed even as strong economic growth data out of the U.S. and indications of cooling inflation pushed the S&P500 to fresh all-time highs.
Gross domestic product data showed the U.S. economy grew at 3.3% in the fourth quarter, compared with expectations of 2% from economists polled by Dow Jones.
The U.S.’ personal consumption expenditures price index, excluding food and energy, climbed 2% in the final quarter of 2023, while headline inflation rose 1.7%.
In Australia, the S&P/ASX 200 climbed 0.48% and was on pace to extend its winning streak to a sixth days.
Japan’s Nikkei 225 slipped 0.86% after its January inflation reading from Tokyo came in softer compared with December. Tokyo’s data is widely considered to be a leading indicator for nationwide inflation. The broad based Topix fell 0.79%
Tokyo’s headline and core inflation rate for January came in at 1.6%, compared with 2.4% and 2.1%, respectively, in December.
South Korea’s Kospi inched up 0.13%, while the small-cap Kosdaq rose 0.22%.
Separately, futures for Hong Kong’s Hang Seng index stood at 16,079, pointing to a weaker open compared with the HSI’s close of 16,211.96.
Overnight in the U.S., all three major indexes gained, with the S&P500 index advancing 0.53% to reach a record high of 4,894.16, notching a six-day winning streak.
The Dow Jones Industrial Average added 0.64%, while, the Nasdaq Composite rose 0.18%, weighed down by a post-earnings tumble in Tesla shares.
— CNBC’s Alex Harring and Brian Evans contributed to this report
[ad_2]
Source link
