Shibuya Central Street.
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Asia-Pacific markets were mixed on Friday after Thursday’s sell-off sent some indexes in the region to their lowest levels in months.
The sell-off came as traders retreated from Wall Street’s technology stocks, sending major U.S. stock indexes lower on Wednesday, with the S&P and Nasdaq extending losses of 0.51% and 0.93% respectively on Thursday, while the Dow Jones Industrial Average up 0.2%.
“There’s a changing of the guard on Wall Street. Artificial intelligence stocks that previously led the gains are now leading the losses,” said Adam Sarhan, chief executive of 50 Park Investments, adding that these moves are not uncommon during bull markets. .
In Asia, traders assessed July inflation data from the Japanese capital Tokyo, which is widely considered a leading indicator of national trends.
Tokyo’s overall inflation rate slowed slightly to 2.2% in July from 2.3% in May, while core inflation (excluding fresh food prices) remained unchanged at 2.2%, in line with expectations.
So-called “Core-core” inflation ratePrices excluding fresh food and energy prices, which the BOJ focuses on, fell to 1.5% from 1.8%.
The yen will also be closely watched after strengthening sharply against the dollar over the past week. The currency is currently trading at 153.56 against the US dollar.
Japan’s Nikkei 225 Index The sell-off extended, with the index down 0.1% in early trade, with the Topix down 0.18%.
In contrast, South Korea Cospi The Kosdaq also rose 0.63%, with the small-cap Kosdaq rising 0.39%.
Australia’s S&P/ASX 200 index rose 0.87%.
Hong Kong Hang Seng Index futures were at 17,084 points, lower than the Hang Seng Index’s last closing point of 17,004.97 points.
—CNBC’s Lisa Kailai Han and Sarah Min contributed to this report.
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