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