Economic Data Boosts Asian Markets

Investors in the Asia-Pacific region welcomed the latest economic data from Japan and Australia, which showed promising signs of growth in the private sector. Japan's private sector output saw a slight expansion, while Australia's also reported growth, contributing to a positive market sentiment.

Inflation and Market Performance

Further bolstering the optimism was Japan's annual inflation rate, which climbed to 3.6%. This economic indicator, along with the private sector data, played a significant role in the uplift of major stock indexes across the region.

Japan's Nikkei 225 increased by 0.41%, and Hong Kong's Hang Seng surged by 1.30%. South Korea's Kospi also saw a rise of 0.57%, while mainland China's Shanghai Composite and Shenzhen Composite grew by 0.41% and 0.70%, respectively. Australia's S&P/ASX 200 wasn't left behind, adding 0.31% to its value.

Currency Movements

In the currency markets, the dollar strengthened against the yen, trading 0.24% higher at 156.35800 yen.