People crossing street in Tokyo’s busy Akihabara downtown area
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Asia-Pacific markets mostly lost ground on Friday, led by losses in South Korean stocks after its industrial production declined for a second straight month in October.
The country’s industrial production growth fell 0.3% last month compared to September when growth had also fallen by 0.3% month on month.
Industrial production saw a 2.3% increase year on year in October, marking a reversal from the 1.3% fall in September.
The country’s benchmark index, Kospi, fell 1.95% to close at 2,455.91, leading losses in Asia, while the small-cap Kosdaq dropped 2.33%, ending at 678.19.
Investors also assessed November inflation numbers from Japan’s capital of Tokyo, which saw its headline inflation rate come in at 2.6%, a rebound from the 1.8% seen in October.
Core inflation, which excludes costs of fresh food, rose to 2.2% compared with Reuters poll expectations of 2.1%.Tokyo’s inflation numbers are widely considered to be a leading indicator of nationwide trends.
Japan’s Nikkei 225 fell 0.37% after the inflation data release to end at 38,208.03, while the broad-based Topix fell 0.24% to 2,680.71.
The yen appreciated to its strongest in five weeks against the dollar, slipping under the 150 mark.
Hong Kong’s Hang Seng index pared earlier gains to trade nearly flat, while mainland China’s CSI 300 rose 1.39%.
The moves come as a Reuters poll said China’s home prices are expected to fall at a slower pace this year and next, and stabilize in 2026, as support measures are starting to take effect.
Australia’s S&P/ASX 200 dropped 0.1%, closing at 8,436.2.
U.S. markets were closed for Thanksgiving on Thursday, and will be open only for a half day on Friday.
