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Japan stocks eke out gains; China markets edge lower

·1 min

Asia-Pacific markets were mixed on Tuesday. Japan’s Nikkei 225 index went up, while markets in China and South Korea fell. Wall Street’s rally paused on Monday as its main indexes retreated from record highs. Major economic data this week include China’s manufacturing purchasing managers’ index and the US personal consumption expenditures price index data. In Japan, the Nikkei 225 rose and the broader Topix index gained. China’s CSI 300 index opened lower, while Hong Kong’s Hang Seng index went higher. South Korea’s Kospi edged lower, while Australia’s S&P/ASX 200 was lower. The S&P 500 retreated from record highs. Japan’s core consumer prices rose at a slower pace in January. The Bank of Japan’s target of 2% inflation was matched. Stocks tied to bitcoin’s price surged as the cryptocurrency shot above $54,000 for the first time since December 2021. Ether, Solana, and Cardano’s ADA token also gained. Bitcoin traded flat in the week leading up to the breakout.