Asian equity markets rose on Friday as economic optimism stemming from China’s reopening outweighed concerns about a looming slowdown and the prospect of further monetary tightening in other major economies. Investors also digested data showing Japan’s annual core inflation rate jumped to a fresh 41-year high of 4% in December, while China’s central bank kept its key lending rates unchanged for the fifth straight month. Meanwhile, investors remain cautious ahead of the week-long Lunar New Year holidays in China amid the risk of an unexpected event while mainland markets are shut. Shares in Australia, South Korea, Japan, Hong Kong and mainland China all advanced.
