Asia Pacific stocks mixed ahead of July economic data releases; Korean Air Lines soars on surprise profit
Stocks in Asia Pacific traded mixed Friday morning as investors await several economic data releases for July.
In Japan, the Nikkei 225 slipped 0.3% in early trade while the Topix index shed 0.15%.
South Korea’s Kospi advanced 0.51%.
Meanwhile, shares in Australia dipped, with the S&P/ASX 200 shedding 0.64%. The Reserve Bank of Australia is set to release its statement on monetary policy at around 9:30 a.m. HK/SIN.
Overall, the MSCI Asia ex-Japan index hovered above the flatline.
Stocks on the move
In corporate news, shares of Korean Air Lines soared more than 7% in Friday morning trade. The moves came after the airline reported a net profit in the second quarter on the back of strong cargo demand, according to local news agency Yonhap. The positive earnings report came despite the coronavirus pandemic’s toll on the global airline industry.
Japanese game maker Nintendo also saw its stock jump more than 4% after the firm on Thursday reported a 428% surge in profits.
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