HONG KONG (APP) – Asian markets were largely flat in morning trade Friday after the dollar firmed on US inflation data, while disappointing Japanese figures challenged Tokyo’s war on falling prices.
Japanese inflation slowed for a sixth straight month in January — dampened by weak consumer spending and falling energy prices — its lowest level since Tokyo launched an offensive on falling prices and tepid growth nearly two years ago.
Tokyo ticked up 0.07 percent, Hong Kong added 0.54 percent and Shanghai edged down 0.08 percent. Seoul slipped 0.12 percent while Sydney was up 0.37 percent and Wellington added 0.08 percent. Markets in Taiwan were closed for a public holiday.
The dollar eased Friday after rallying on inflation data that pointed to rising price pressures in some areas of the US economy, which could ease the way for the Fed to hike interest rates.
In Tokyo, the dollar weakened to 119.27 yen from 119.42 yen in New York, although it was still higher than 118.97 yen seen in Tokyo earlier Thursday. The euro rose to $1.1206, from $1.1198, but it slipped to 133.65 yen from 133.72 yen in US trade.
