Industrial profit data will be released from China on Friday, and Japan has announced September inflation data from the capital city of Tokyo.
Tokyo's inflation rate for September eased to 2.2% from 2.6%, while core inflation was in line with expectations at 2%. China's central bank cut its 7-day reverse repurchase rate to 1.5% from 1.7%, as well as lowered the reserve requirement ratio for banks by 50 basis points.
Asia-Pacific markets mostly rose Friday, with Chinese stocks likely set to cap off a week of gains on the back of Beijing's stimulus measures aimed at boosting the economy.China will release its industrial profit data later in the day, this will be on a year-to-date basis through August and investors will have to wait for the next batch of data to assess the effects of Tuesday's stimulus measures.futures were at 20,575, higher than the HSI's last close of 19,924.58. Should the futures data prove accurate, this would mean a more than 3% climb for the index at open.to 1.7% from 1.5%, its second cut in about three months. The short term rate was last lowered to 1.7% from 1.8% in July.of financial institutions by 0.5 percentage points so as to"create a good monetary and financial environment for China's stable economic growth and high-quality development," according to a translated statement from the PBOC. The bank added that the weighted average deposit reserve ratio of financial institutions will be about 6.6% after this reduction.Tokyo's headline inflation rate eased to 2.2%, down from August's 2.6%. The core inflation rate — which strips out prices of fresh food — in the capital city came in at 2%, in line with expectations from economists polled by Reuters and down from 2.4% in August.Seperately, the final reading of the U.S.' second-quarter GDP was unrevised at a strong 3%.David Tepper says the Fed has to cut rates at least two or three more times
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