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Asia Stock Movement | Nikkei Closes Up 1.4%, Reclaims 52,000 Level
Asia-Pacific stock markets develop individually.
Japan’s stock market rebounded after two days of decline, surpassing the 52,000-point mark. The Nikkei Average opened higher and rose throughout the day, gaining as much as 1,186 points or 2.3%, reaching a high of 52,701 points. It closed at 52,252 points, up 736 points or 1.43%.
Japan’s February Consumer Price Index (CPI) increased by 1.3% year-on-year, the slowest since March 2022, below the central bank’s 2% target. In January, it was 1.5%. Core inflation, excluding food, slowed to 1.6%, below the expected 1.7%.
South Korea’s stock market reversed the previous day’s decline of over 6%, rebounding more than 2% today. The Seoul Composite Index closed at 5,553 points, up 148 points or 2.74%.
Taiwan’s stock market was relatively soft, with the Taiwan Weighted Index closing at 32,612 points, down 110 points or 0.34%.
Australia’s stock market performed well, with the S&P/ASX 200 closing at 8,571 points, up 18 points or 0.22%.