Asia-Pacific markets soars higher as investors shook off a strong inflation report

• Japan was 3.36% higher, Japan’s yen plunged to its lowest levels against the U.S. dollar since 1990 overnight before paring losses, and still trading at 147-levels.
• China +2.29%, and the Shanghai Composite was up 1.57% and the Shenzhen Component rose 2.12%.
• The Hang Seng index in Hong Kong gained nearly 3.12%.
• Australia gained 1.79%, DJ New Zealand was +0.53%.
• India +1.68%.
• MSCI’s broadest index of Asia-Pacific shares outside Japan was 2.34% higher.
• Singapore’s GDP grew 4.4% in the third quarter and is expected to further tighten its monetary policy.
• Dow Jones Industrial Average rose 827 points, or 2.83%, to close at 30,038.06 after being down more than 500 points earlier in the day. The S&P 500 ticked up 2.60% to 3,669.87, breaking a six-day losing streak. The Nasdaq Composite gained 2.23% to end the day at 10,649.15.
• In the U.S., inflation data showed consumer prices increased more than expected in September, with CPI rising 0.4% from August, and 8.2% from September last year. Core inflation accelerated even faster in September.
• South Korea’s Kospi advanced 2.47% and the Kosdaq climbed 3.88%.
• Oil prices slipped in early Asian trade on Friday as U.S. crude and gasoline inventories jumped, while Saudi Arabia and Washington continued to clash over plans by OPEC+ to slash production.
• Brent crude futures fell 15 cents, or 0.2%, to $94.42 per barrel by 0034 GMT, while U.S. West Texas Intermediate crude futures were down 21 cents, or 0.2%, cents at $88.90 per barrel.
• Gold prices fell on Friday, adding to the weekly decline, as a hotter-than-expected U.S. inflation reading cemented bets of another hefty Federal Reserve interest rate hike next month.
• Spot gold fell 0.3% to $1,660.10 per ounce, as of 0123 GMT.
• Spot silver dipped 0.3% to $18.81 per ounce, platinum fell 0.5% to $891.67 and palladium was 0.3% lower at $2,101.77.
• Futures tied to the Dow Jones Industrial Average added 20 points, or 0.07%. S&P 500 futures inched higher by 0.08%, and Nasdaq 100 futures hovered just below the flat line.