A customer picks up a can on beer from a shelf at a Summit supermarket store in Tokyo, Japan, on Tuesday, July 27, 2021. Photographer: Noriko Hayashi/Bloomberg via Getty Images
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Shares in the Asia-Pacific traded mixed as Japan’s core consumer price index for October rose 3.6% compared to a year ago, higher than expected and at the fastest pace in 40 years. The nation last saw the same level in February 1982, Refinitiv data showed.
The Nikkei 225 fell 0.11% to close at 27,899.77, while the Topix ended its session at 1,967.03. South Korea’s Kospi was fractionally higher to close at 2,444.48. The S&P/ASX 200 in Australia gained 0.23% to end its session at 7,151.8.
The Hang Seng Index erased earlier gains and closed its session 0.29% lower at 17,992.54. In mainland China, the Shanghai Composite ended its session 0.58% lower at 3,097.24 and the Shenzhen Component fell 0.37% to close at 11,180.43.
Economic leaders of the region will gather in Thailand as the Asia Pacific Economic Cooperation summit continues.
Overnight on Wall Street, stocks fell and yields jumped with a number of speakers from the Federal Reserve signaling more interest rates hikes ahead. St. Louis Federal Reserve President James Bullard suggested the appropriate federal funds rate zone to be between 5% and 7%, higher than what markets are pricing in.