Asia report: Shares broadly higher ahead of US CPI data

Asia-Pacific shares were mostly higher as investors eye US inflation figures for a a guide on the Federal Reserve’s interest rate policy to tackle rampant inflation.

Japan's Nikkei 225 traded 1.03% higher to close at 26,446, while South Korea's Kospi edged up 0.35% to 2,359.53 even as South Korea’s unemployment rate for December rose to 3.3% compared to November’s 2.9%, marking the highest in 11 months.

Hong Kong’s Hang Seng index was up 0.51%, but China’s Shanghai Composite shed 0.24%, closing at 3,161.84.

In Australia, the S&P/ASX 200 rose 0.90% to close at 7,195.3 as retail sales grew more than expected in November, thanks largely to the Black Friday shopping event. However, the news was tempered by news that the consumer price index rose 7.3% year-on-year in November, a sign that inflationary pressures were not slowing.

In equity news, shares of some Apple suppliers in the region fell after Bloomberg reported that the company will begin making in-house screens in 2024.

South Korea listed stocks of LG Display fell 3.35% in its afternoon trade shortly after the report and Taiwan Semiconductor shares also fell.

Shenzhen-listed shares of BOE Technology Group rose more than 1% as Reuters reported that the Apple supplier is planning invest a substantial sum to build new factories in Vietnam.