Asia Stocks Fall on Tech Losses, Oil Above $100; Japan CPI Below 2%
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- South Korea's KOSPI edged down 0.4% to 46,452.29 after hitting a record 6,557.56 the prior session, with the benchmark set to gain more than 4% for the week on chipmaking strength
- Japan's core CPI rose 1.8% year-on-year in March, up from 1.6% in February but still below the Bank of Japan's 2% target, ahead of a BOJ meeting next week where the central bank is expected to keep rates unchanged but signal willingness to hike
- China's Shanghai Composite fell 0.5% and the CSI 300 slipped 0.6%, while Hong Kong's Hang Seng dropped 0.5% and the HSTECH tech sub-index declined 1%
- Nikkei 225 edged up 0.4% after hitting a record high on Thursday, with the index set to rise 1.5% for the week on tech and earnings gains
- Crude oil stayed elevated above $100 per barrel as stalled US-Iran negotiations and ongoing Strait of Hormuz disruptions kept supply fears in play, stoking inflation concerns
- US stock index futures rose in Asian trading after President Trump announced an extension of the Israel-Lebanon ceasefire, though the article notes the announcement offered only limited support
- Singapore's Straits Times Index fell 0.8% and Australia's ASX 200 dipped 0.5%, while India's Nifty 50 futures rose 0.4%
Why it matters: Friday's dip masked a strong week: KOSPI was still set to jump 4% and Nikkei 1.5% despite the pullback. The more consequential signal is Japan's core CPI undershooting the BOJ's 2% target at 1.8% — a weak print that complicates the central bank's expected signal toward rate hikes at next week's meeting, with direct implications for yen positioning and Japanese equities.
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