Asian equity markets posted broadly positive gains on Friday, buoyed by a rally in U.S. technology shares. The Nikkei 225 in Japan climbed 0.6% to 64,622.33, while South Korea’s Kospi rose 0.9% to 6,635.67. Hong Kong’s Hang Seng jumped 2.1% to 25,751.26, and the Shanghai Composite added 0.8% to 3,973.27.
U.S. markets closed higher on Thursday, with the S&P 500 up 1.1%, the Dow Jones Industrial Average gaining 1.2%, and the Nasdaq Composite rising 1.4%. Strong performance from major tech firms—Microsoft (+2.7%), Apple (+1.0%) and Meta (+3.0%)—helped lift sentiment across the Pacific.
Tech and communication stocks drive the rally
Communication‑services companies accounted for a sizable share of the market lift, reflecting their outsized valuations and influence on broader indices. Chipmaker Nvidia added 1.8% after announcing a $13 billion acquisition of AI platform Hugging Face, underscoring the sector’s role in advancing artificial‑intelligence capabilities.
Energy prices stay elevated amid Middle‑East tensions
U.S. crude futures edged up 65 cents to $91.95 a barrel, while Brent crude rose 47 cents to $95.99. The six‑month conflict between the United States and Iran, which has intensified recently, remains a key driver of higher energy costs. Nations that rely on oil imports through the Strait of Hormuz, such as Japan, continue to monitor the situation closely.
Interest‑rate outlook and currency moves
The yield on the 10‑year Treasury slipped to 4.77% from 4.79% on Wednesday, after a steady rise earlier in the year. Federal Reserve Governor Christopher Waller signaled that, should inflation data show further cooling, the Fed may hold rates steady at its upcoming policy meeting. Conversely, hotter inflation could prompt another hike.
Investors also watched the Bank of Japan for clues on its next policy decision, with some analysts expecting a rate increase to support a stronger yen.
In currency markets, the U.S. dollar weakened slightly to 155.78 yen, while the euro held near $1.1633.
AP Business Writer Alex Veiga contributed to this report.
Original reporting: KTBS 3 (Shreveport) — read the source article.
