Investors Look Ahead to Fed Speech, Asia Mixed

Asia-Pacific markets traded mostly higher Friday as investors await U.S. Federal Reserve Chair Jerome Powell’s speech at the central bank’s annual economic symposium, which could offer clues into the path of interest rates. In Japan, the Nikkei regained 23.12 points, or 0.1%, to 42,633.29. In Hong Kong, the Hang Seng revived 234.53 points, or 0.9%, to 25,339.14. Australian stocks lost momentum. The country’s core inflation rate cooled to 3.1% in July, coming down from 3.3% the month before. The figure — which strips out costs for fresh food — was higher than the 3% expected by economists polled by Reuters. Rice inflation eased to 90.7% in July, following two months of inflation surging past the 100% mark. In other markets In Shanghai, the CSI 300 hiked 89.93 points, or 2.1%, to 4,378. In Singapore, the Straits Times index inched up 22.12 points, or 0.5%, to 4,253.02 In Korea, the Kospi gained 26.99 points, or 0.9%, to 3,168.73. In Taiwan, the Taiex index crumbled 197.66 points, or 0.8%, to 23,764.47. In New Zealand, the NZX 50 slid 151.36 points, or 1.2%, to 13,042.76 In Australia, the ASX 200 shed 51.66 points, or 0.6%, to 8,967.42.