Posted 10/20/2023, 10:53:00 AM
Asian Markets Tumble as Japan Reports Slowing Inflation and China Holds Rates Steady
- Asian Markets Fall
- Japanese Price Rises Ease But Core Inflation Is Sticky
- Asian stock markets dropped across the region on Friday
- South Korea’s KOSPI Composite Index led the losses, dropping 1.7%
- Hong Kong’s Hang Seng Index fell 0.7%
- People’s Bank of China held its benchmark lending rate steady as expected
- Japanese inflation data showed price rises easing but still above 2% target
- Consumer prices rose 3% in September vs 3.2% in August
- Core inflation came to 4.2%
- Bank of Japan rate hike likely in Q2 2023 once GDP output gap turns positive
