Japan’s core consumer price index rose 3.7 percent on-year in November, the fastest pace since December 1981, when it rose 4 percent. The figure was in line with the estimates of analysts polled by Reuters after rising 3.6 percent in October. This figure remains above the Bank of Japan’s inflation target of two percent. The growth of the national consumer price index for all items amounted to 3.8 percent.
Stocks in Asia-Pacific traded lower due to losses on Wall Street, while investors also awaited the release of some economic data in the region, according to CNBS. The Nikkei 225 fell one percent in the first hour of trading. The Japanese yen was trading at 132.38 against the US dollar. Australia’s S&P/ASX 200 lost 0.84 percent and South Korea’s Kospi lost 1.24 percent.
In the US, the Dow Jones Industrial Average fell 348.99 points, or 1.05 percent, after falling 803.05 points earlier in the session. The S&P 500 was down 1.45 percent and the Nasdaq Composite was down 2.18 percent.