Equity indices in the Asia-Pacific region ended the week on a higher note. A former top Japanese currency official said that the yen could weaken to 150 per dollar due to a deepening divergence in monetary policy. Japan’s National CPI and Core CPI were above the Bank of Japan’s 2.0% target in April with the core reading increasing at the fastest pace since early 2015. The People’s Bank of China lowered its five-year loan prime rate by 15 bps to 4.45%.
Japan’s Nikkei: +1.3% (+1.2% for the week)
Hong Kong’s Hang Seng: +3.0% (+4.1% for the week)
China’s Shanghai Composite: +1.6% (+2.0% for the week)
India’s Sensex: +2.9% (+2.9% for the week)
South Korea’s Kospi: +1.8% (+1.4% for the week)
Australia’s ASX All Ordinaries: +1.2% (+1.1% for the week)