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Asian shares trade mixed on Japanese data | Asian shares trade mixed on Japanese data |
(about 2 hours later) | |
Friday's Asian markets have a slew of Japanese economic data to digest - and it paints a mixed picture of the world's third largest economy. | Friday's Asian markets have a slew of Japanese economic data to digest - and it paints a mixed picture of the world's third largest economy. |
Excluding the effect of a large tax rise in April, October inflation was 0.9%, way below the 2% target. | Excluding the effect of a large tax rise in April, October inflation was 0.9%, way below the 2% target. |
Household spending fell by 4% in the same period, but retail sales rose 1.4%, beating expectations and unemployment fell from 3.6% to 3.5%. | Household spending fell by 4% in the same period, but retail sales rose 1.4%, beating expectations and unemployment fell from 3.6% to 3.5%. |
All the data sent the benchmark Nikkei 1% higher to 17,420.63 points. | |
Meanwhile, the country's industrial output rose above expectations by 0.2% in October from the previous month, marking the second consecutive month of gains. | Meanwhile, the country's industrial output rose above expectations by 0.2% in October from the previous month, marking the second consecutive month of gains. |
Including the tax rise, inflation was 2.9% higher in October than a year ago, compared with 3% in September. | Including the tax rise, inflation was 2.9% higher in October than a year ago, compared with 3% in September. |
The yen traded at 118.21 against the dollar, near weekly highs of 118.57. | |
China shares were mixed with Hong Kong's energy shares hit by tumbling oil prices after the meeting of Opec countries decided not to cut production. | |
The benchmark Hang Seng Index was down 0.1% at 23,980.45, while the Shanghai Composite was higher 0.3% to 2,637.18. | |
Australian shares were lower with the resources sector also weighed down by slumping oil prices. | |
The benchmark S&P/ASX 200 index was down 1.3% at 5,329.80. | |
In South Korea, shares edged lower after official economic data showed the industrial output fell against expectations in October after factory activity stalled in September. | |
Production in October fell 1.6% month on month, significantly worse than a forecast of a 0.8% gain. | Production in October fell 1.6% month on month, significantly worse than a forecast of a 0.8% gain. |
The Kospi was down 0.2% at 1,979.16. |