The sails of the Opera House are illuminated with projections on the opening night of Vivid Sydney 2023 in Sydney, Australia, on Friday, May 26, 2023.
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Asia-Pacific markets mostly climbed on Friday, extending gains from Thursday as Wall Street’s tech rally continued.
In Asia, investors will react to August inflation figures out from India late Thursday, which showed that the consumer price index rose 3.65% year on year, rising from a five-year low. This was above July’s revised figure of 3.6% and also beat expectations of 3.5% from economists polled by Reuters.
South Korea’s Kospi inched up 0.41%, while the small cap Kosdaq was 0.3% higher.
Australia’s S&P/ASX 200 gained 0.27% and neared its all-time closing high of 8,114.7.
Japan’s Nikkei 225 was the outlier in early trade, falling 0.14%, while the broad based Topix was also down 0.37%.
Hong Kong Hang Seng index futures were at 17,294, higher than the HSI’s last close of 17,240.
Futures for mainland China’s CSI 300 stood at 3,176, just slightly higher than the index’s last close, a near six-year low of 3,172.47 on Thursday.
Overnight in the U.S., the S&P 500 gained 0.75%, marking a four-day winning streak. The Dow Jones Industrial Average rose 0.58%, while the Nasdaq Composite saw the largest gain, rising 1%.
Thursday saw the last major data point for the U.S. economy before the Federal Reserve meeting next week, as the country’s producer price index rose 0.2% month on month, in line with expectations from Dow Jones. On a year-on-year basis, headline PPI rose 1.7%.
—CNBC’s Pia Singh, Jeff Cox and Sarah Min contributed to this report.
