SINGAPORE – Shares in the Asia-Pacific region rose on Friday as investors weighed recession fears.
Hong Kong Hang Seng Index It jumped 1% in early trade, with Hang Seng Tech up 1.7%.
Logistics company GoGoX jumped to HK$22.90 ($2.92) in its first appearance on the city’s stock market. The bid price was HK$21.50.
South Korea Cosby It gained 1.92% and the KOSDAQ index advanced 3.81%.
In Japan markets, the Nikkei 225 Topix is up 0.66%, while Topix is up 0.23%.
The S & P / ASX 200 In Australia it rose 0.25%. The New Zealand market is closed for a holiday on Friday.
MSCI’s broadest index of Asia Pacific shares rose about 1%.
Japan’s core consumer prices rose 2.1% for the month of May from a year earlier, in line with estimates, according to Reuters. This is above the Bank of Japan’s 2% inflation target. However, Reuters said consumer prices rose 0.8% only if fresh food and energy were withdrawn.
Looking ahead, Reserve Bank of Australia Governor Philip Lowe is also scheduled to speak on inflation later in the day.
Overnight in the United States, Shares rose late in the day on fears of a recession. Several large banks this week raised their forecasts of recession.
The Dow Jones Industrial Average jumped 194.23 points, or 0.64%, to 30,677.36 points. The S&P 500 advanced 0.95% to 3795.73, and the Nasdaq Composite rose 1.62% to 11232.19.
The US dollar indexwhich measures the US currency against a basket of peers, was at 104.357.
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