Asian Equities Slightly Higher after Japan CPI Data

Asian stocks eked out slim gains on the final trading day of the month following the previous day’s selloff thanks to a rally on Wall Street overnight and upbeat economic data from Japan.

Trading volumes were thin due to the Chinese New Year holidays. Shanghai, Hong Kong and South Korean markets were closed and will resume trade next week.

A rally on Wall Street overnight helped lift sentiment in Asia. The S&P 500 closed 1 percent higher, while the Nasdaq shot up nearly 2 percent after data showed the economy expanded an annual 3.2 percent in the fourth quarter, with consumer spending rising 3.3 percent.


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