Markets in the Asia-Pacific climb after tech stocks led gains on wall street traded higher on Friday as technology stocks continued to see renewed interest and led gains on Wall Street, with some shaking off concerns of a further banking crisis.
Asia-Pacific Markets Climb after tech stocks led gains on Wall Street
Investors also looked ahead to the U.S. personal consumption expenditure price index, the Federal Reserve’s preferred measure of inflation, which is slated for release later in the day.
In Japan, the Nikkei 225 rose 0.93% to 28,041.48 and the Topix rose 1.02% to 2,003.5 as Tokyo’s inflation print continued to show lower levels from its recent peak of 4.3% seen in December. The S&P/ASX 200 in Australia rose 0.78% to close at 7,177.8.
South Korea’s Kospi also rose 0.97% to end its session at 2,476.86 while the Kosdaq fell 0.35% to 847.52.
The Hang Seng index in Hong Kong pared earlier gains and last traded 0.65% higher in its final hour of trade. The Hang Seng Tech index also rose 0.92%.
In mainland China, the Shenzhen Component gained 0.64% and the Shanghai Composite inched up 0.36%
Overnight in the US Stock Market News, weekly jobless claims rose by 7,000 to 198,000, adding to hopes that the Federal Reserve could slow down its tightening campaign on a cooling labor market.
The S&P 500 added 0.57%, and touched its highest level since March 7 mid-session. The Nasdaq Composite also rose and marked an increase of more than 4% for the month and the Dow Jones Industrial Average added 0.43%.
