Asia-Pacific Markets Mostly Lower After PBoC's Decision

The major stock markets in the Asia-Pacific region experienced a mostly downward trend during the afternoon session on Friday, following the People's Bank of China's (PBoC) decision to maintain its key interest rates steady. This decision came as a surprise to investors who were anticipating a rate cut.

Adding to the market's unease was the recent report by the Statistics Bureau of Japan, which revealed an increase in inflation to 2.9% in November. This news further dampened investor sentiment.

Among the notable indices, Japan's Nikkei decreased by 0.23%, Hong Kong's Hang Seng by 0.08%, and South Korea's Kospi by 1.63%. Australia's S&P/ASX 200 also dropped by 1.24% at the close. In mainland China, the Shanghai Composite lost 0.16%, while the Shenzhen Composite saw a slight increase of 0.25%.

The dollar traded 0.23% lower against the yen, selling at ¥156.9725 at 7:16 am CET.