Nikkei 225 index exceeds 41 thousand

The Nikkei 225 surpassed 41,000 as Japanese inflation accelerated in February; Hong Kong stocks fell 3 percent. Japan’s Nikkei 225 index briefly topped 41,000 on Friday, reaching an all-time high as the country’s inflation accelerated in February while other Asia-Pacific markets fell. Japan’s headline inflation rate for February rose to 2.8 percent from 2.2 percent in February. Core inflation, which excludes fresh food prices, was 2 percent the previous month, up from 2 percent. The BOJ said in a statement on Tuesday that it would “sustainably and steadily achieve the 2 percent price stability target.” But the Nikkei pulled back to trade just below 41,000 during the lunch break and was last up 0.1 percent in choppy trading. The Topix, which set a new record, was also up 0.41 percent. Hong Kong’s Hang Seng index fell 3 percent, lifted by electric vehicle stocks after the index gained almost 2 percent on Thursday. Mainland China’s CSI 300 index also fell 1.49 percent. The Hang Seng Tech index fell 4.3 percent, led by Li Auto shares. South Korea’s Kospi index shed 0.48 percent after leading gains in Asia on Thursday, while the small-cap Kosdaq also lost marginally. Australia’s S&P/ASX 200 lost 0.38 percent, while the Taiwan Weighted Index traded near the sidelines after the central bank raised interest rates in a surprise move on Thursday.