Asian equity markets posted gains on Friday, with technology shares driving the rally after Federal Reserve Governor Christopher Waller signaled that the central bank is likely to keep rates unchanged at its upcoming meeting. The probability of a Fed rate hike this month fell to roughly 50% from 63%, according to CME FedWatch, reflecting reduced expectations of a June increase.
In Japan, the Nikkei index rose more than 1%, propelled by SoftBank Group (TYO:9984) which surged over 10%. The broader Japanese market was tempered by a sharply stronger yen, which has appreciated about 2.6% this week as markets price in a possible Bank of Japan rate hike in September.
South Korea’s KOSPI climbed 1.4%, led by Samsung Electronics (KS:005930) gaining 1.6% and SK Hynix (KS:000660) advancing 2.4%.
Hong Kong’s Hang Seng jumped 2.2%, with Chinese tech giants Alibaba (HK:9988) and Baidu (HK:9888) each rising more than 4%.
In China, both the Shanghai Composite and the Shanghai‑Shenzhen CSI 300 gained 0.5%.
Singapore’s Straits Times Index rose 1.1%, while Australia’s S&P/ASX 200 edged down 0.1%, bucking the regional trend. Futures tied to India’s Nifty 50 slipped 0.2%.
On Wall Street, all three major benchmarks closed more than 1% higher; the tech‑heavy Nasdaq Composite finished 1.4% up as AI‑related megacap stocks posted gains.
U.S. Treasury yields eased, with the 10‑year Treasury yield standing at 4.768% after the overnight move.
Investors are awaiting the U.S. non‑farm payrolls report due later on Friday. The unemployment rate is expected to remain at 4.1%. A weaker‑than‑expected report could further bolster expectations that the Fed will avoid raising rates this month, whereas a stronger reading could revive rate‑hike bets.
Oil prices stayed elevated, with Brent crude near $96 a barrel, up about 7% for the week, as geopolitical tensions in the Middle East and uncertainty over energy flows through the Strait of Hormuz kept inflation risks in focus.