Asian markets were mixed on Friday after US inflation
data renewed speculation of an interest rate hike, as Tokyo advanced to a
fresh high despite disappointing figures challenging Japan's war on
deflation.
Official data showed Japanese inflation slowed for a sixth straight month in January, dampened by weak consumer spending and falling energy prices - its lowest level since May 2013.
Tokyo stocks edged up to a fresh 15-year high, despite profit-taking largely erasing earlier gains that were driven by the yen's fall.
The Nikkei 225 index at the Tokyo Stock Exchange ticked up 0.06% to end at 18 797.94, while the Topix index of all first-section issues advanced 0.14% to 1 523.85.
Seoul slipped 0.37% in cautious trading after a recent rally with the benchmark KOSPI closing down 7.28 points at 1 985.80. Sydney climbed 0.34%, closing up 20.3 points to 5 928.8.
Hong
Kong stocks fell 0.32%, losing 78.77 points to 24 823.29. Shanghai
added 0.36 percent, or 11.94 points, to 3 310.30 ahead of a key meeting
next week that investors hope might yield policies to spur economic
reforms. "Investors are quite focused on the meeting and they are
waiting to see what will come out of it," Qian Qimin, an analyst at
brokerage Shenwan Hongyuan Group in Shanghai, told AFP.
The annual meeting of the National People's Congress, the country's legislature, which starts Thursday will also unveil the economic growth target for 2015.
"Investors are waiting for more clarity on policies from the upcoming meetings next week," Clement Cheng, a Hong Kong-based trader at RBC Investment Management Asia, told Bloomberg News.
The dollar eased after rallying on the US inflation figures which pointed to rising price pressures in some areas, which could ease the way for the Fed to hike interest rates.
The dollar weakened to ¥119.31 from ¥119.42 in New York, although it was still higher than ¥118.97 seen in Tokyo earlier Thursday.The euro rose to $1.1217, from $1.1198, and to ¥133.83 from ¥133.72 in US trade.
Official data showed Japanese inflation slowed for a sixth straight month in January, dampened by weak consumer spending and falling energy prices - its lowest level since May 2013.
Tokyo stocks edged up to a fresh 15-year high, despite profit-taking largely erasing earlier gains that were driven by the yen's fall.
The Nikkei 225 index at the Tokyo Stock Exchange ticked up 0.06% to end at 18 797.94, while the Topix index of all first-section issues advanced 0.14% to 1 523.85.
Seoul slipped 0.37% in cautious trading after a recent rally with the benchmark KOSPI closing down 7.28 points at 1 985.80. Sydney climbed 0.34%, closing up 20.3 points to 5 928.8.
The annual meeting of the National People's Congress, the country's legislature, which starts Thursday will also unveil the economic growth target for 2015.
"Investors are waiting for more clarity on policies from the upcoming meetings next week," Clement Cheng, a Hong Kong-based trader at RBC Investment Management Asia, told Bloomberg News.
The dollar eased after rallying on the US inflation figures which pointed to rising price pressures in some areas, which could ease the way for the Fed to hike interest rates.
The dollar weakened to ¥119.31 from ¥119.42 in New York, although it was still higher than ¥118.97 seen in Tokyo earlier Thursday.The euro rose to $1.1217, from $1.1198, and to ¥133.83 from ¥133.72 in US trade.
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