Stock market today: Asian stocks track Wall Street gains and Japan’s inflation slows

Asia markets are mostly advancing after Wall Street recouped most of the week’s earlier losses and Japan reported slowing inflation, which may keep its ultra-low interest rates steady

HONG KONG -- Asia markets mostly advanced Friday after Wall Street recouped most of the week's earlier losses and Japan reported slowing inflation, which may keep its ultra-low interest rates steady.

U.S. futures and oil prices were mixed. Tokyo’s Nikkei 225 index climbed 1.3% to 35,940.50.

Japan’s inflation slowed for a second straight month, increasing the chance that the Bank of Japan will keep its ultra-low interest rates unchanged at its meeting next week. The country’s annual headline inflation rate has remained above the BOJ’s 2% target since April 2022, with a gradual decline observed from its peak of 4.3% last year to the rate of 2.6% in December that was reported Friday.

Hong Kong stocks were on track for their third consecutive week of losses as investors remain worried about the gloomy economic prospects. The Hang Seng in Hong Kong lost 0.8% to 15,275.00 and the Shanghai Composite index was down 0.3% at 2,838.89.

In South Korea, the Kospi added 1.3% to 2,472.74. Australia’s S&P/ASX 200 advanced 1% to 7,421.20. In Bangkok, the SET was up 0.3%. Taiwan’s Taiex gained 2.6%, with Taiwan Semiconductor Manufacturing Co. adding 6.5%.