Japan markets climb after inflation data release; other Asia markets mixed

Japan's headline inflation rate rose to 2.8%, higher than April's figure of 2.5%. The core inflation rate — which strips out prices of fresh food — came in lower than expected at 2.5%.Pedestrians cross an intersection in the Shibuya district of Tokyo, Japan, on Tuesday, April 25, 2023. Photographer: Kentaro Takahashi/Bloomberg via Getty Images

The country's core inflation rate — which strips out prices of fresh food — came in at 2.5%. A Reuters poll of economists expected the May core inflation reading to come in at 2.6%, compared to April's 2.2%. The so-called"core-core" inflation, which strips out prices of fresh food and energy, came in at 2.1%. This is lower than April's reading of 2.4%. The metric is considered by the Bank of Japan when formulating the country's monetary policy.Hong Kong Hang Seng index futures were at 18,202, lower than the HSI's last close of 18,335.32.

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