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Asia markets live updates: Japan GDP data shrinks

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Shipping containers are loaded onto an international freighter at the international cargo terminal in Tokyo.

Yoshikazu Tsuno | AFP | Getty Images

Asia-Pacific markets rose Thursday after Wall Street benchmarks closed at record highs overnight on soft inflation data, while investors assessed Japan GDP data.

U.S. consumer price index rose 0.3% in April, below the 0.4% rise predicted by the Dow Jones. U.S. CPI climbed 3.4% year over year, in line with market estimates.

Japan’s first-quarter GDP contracted at an annualized rate of 2%, more than the 1.5% expected in a Reuters poll. The latest data could likely jeopardize the Bank of Japan’s plans to raise interest rates.

Japan’s Nikkei 225 added 0.77%, while the broader Topix reversed earlier gains to trade 0.18% lower.

Hong Kong’s Hang Seng index reopened after a holiday to rise 0.27%. Mainland China’s CSI 300 index gained 0.1%.

South Korea’s markets also resumed trading after a holiday, with the Kospi jumping 1% and the smaller-cap Kosdaq adding 1.04%.

In Australia, the S&P/ASX 200 index gained 1.7%.

Overnight, Wall Street’s main indexes closed at record highs on Wednesday after data showed CPI rose at a slower-than-expected pace in April.

The Dow Jones Industrial Average rose 349.89 points, or 0.88%, while the S&P 500 gained 1.17%. The Nasdaq Composite climbed 1.40%.

— CNBC’s Lisa Kailai Han and Samantha Subin contributed to this report.

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