Asia markets mixed as Wall Street rally falters; India inflation data on deck

Original Article:

Source: Link

Beautiful and colorful aerial view of Mumbai skyline during twilight seen from Currey Road, on February 16, 2022 in Mumbai, India. Pratik Chorge | Hindustan Times | Getty Images Asia-Pacific markets were mixed on Thursday after Wall Street's tech-fueled rally dissipated, with investors focused on Japan's spring wage negotiations and India's wholesale inflation data. Japan's wage negotiations wrapped up on Wednesday, with the first overall estimate due on Friday. Reports from local outlets have indicated that large firms offered "major" wage hikes. Strong wage increases could clear the way for the Bank of Japan to start unwinding its ultra easy monetary policy, with the central bank due to meet next Monday and Tuesday. Japan's Nikkei 225 reversed losses to rise 0.29%, while the broad-based Topix saw a larger gain of 0.30%, with defensive utilities stocks leading gains as investors remained cautious. South Korea's Kospi climbed 0.94% to 2,718.76, while the Kosdaq index slipped 0.27%, finishing at 887.52 and snapping a four day winning streak. Hong Kong's Hang Seng index lost 0.83% after climbing earlier in the day, while mainland China's CSI 300 closed down 0.28% at 3,562.22. In Australia, the S&P/ASX 200 ended the day 0.2% lower, despite a rally by miners on the back of gold's continued strength.