Asia markets mostly fall, eyeing inflation, earnings, growth

TOKYO — Asian shares were mostly lower on Friday after Wall Street retreated for a second day as market watchers considered earnings reports and various indicators about whether inflation is waning in the U.S. and elsewhere.

Japan’s benchmark Nikkei 225 NIK added 0.2%. Australia’s S&P/ASX 200 XJO slipped 0.7% and South Korea’s Kospi 180721 dropped 0.8%. Hong Kong’s Hang Seng HSI shed 1.8%, while the Shanghai Composite SHCOMP was down 0.6%. Producer prices fell 0.8% in January after a 0.7% decline the month before. Consumer price inflation rose to 2.1% from a 1.8% climb in December.

The S&P 500 SPX fell 0.9% to 4,081.50, while the Dow Jones Industrial Average DJIA lost 0.7% to 33,699.88. The Nasdaq composite COMP sank 1% to 11,789.58. High inflation and worries about a slowing economy have already begun to hit corporate earnings, and big U.S. companies have been reporting relatively lackluster results for the end of 2022.

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