Asia markets mixed

Asia-Pacific markets were mixed on Wednesday as Australia’s inflation rate climbed for the third consecutive month, while semiconductor stocks surged following Nvidia’s overnight rally. Australia’s headline inflation rate for May reached 4%, up from April’s 3.6%, with core inflation also at 4%, surpassing the 3.8% forecast by economists. The unexpected inflation rise could prompt the Reserve Bank of Australia (RBA) to increase interest rates, as indicated by Governor Michelle Bullock’s recent comments.

Singapore’s May factory output is anticipated to show 2% year-on-year growth, rebounding from April’s 1.6% decline, according to a Reuters poll.

Australia’s S&P/ASX 200 fell 1.03%, led by declines in non-energy minerals and retail trade sectors. Japan’s Nikkei 225 gained 1.26% and the Topix rose 0.64%. South Korea’s Kospi increased by 0.25%, with the Kosdaq nearly flat. Semiconductor stocks, including Advantest, Taiwan Semiconductor, SK Hynix, and MediaTek, saw significant gains. In contrast, Samsung Electronics dipped over 0.2%. Meanwhile, Hong Kong’s Hang Seng and mainland China’s CSI 300 both experienced marginal declines.