Sunrise around the Bund River District on November 02, 2023 in Shanghai, China.
James D. Morgan | News from Getty Images | Getty Images
Markets in Asia-Pacific opened higher on Friday, tracking gains on Wall Street after fresh jobs data boosted investor confidence in the U.S. economy and eased recession fears following a sharp sell-off earlier in the week.
Futures for the Australian S&P/ASX 200 rose 0.72 percent. Nikkei225 The Topix stock index rose 1.63%, while the broad-based Topix stock index gained 1.43%. South Korea's Kospi rose 1.43%, while the small-cap Kosdaq stock index gained 2.67%.
Hong Kong Hang Seng Index futures were at 17,147, higher than the HSI's last close of 16,891.83.
Earlier this week, global stocks and currencies plunged after US jobs data reignited recession fears and investors began unwinding their yen carry trades.
Investors will be looking at China's consumer price index and producer price index for July. Reuters' analyst poll expects China's consumer price index to rise 0.3% year-on-year, compared to a 0.2% increase in the previous month. Reuters economists also forecast China's producer price index to fall 0.9%.
In the US, the S&P 500 rose 2.3% overnight to close at 5,319.31, its best day since November 2022. The Dow Jones Industrial Average rose 683.04 points, or 1.76%, to 39,446.49. The Nasdaq Composite gained 2.87% to close at 16,660.02.
Initial jobless claims were lower than expected last week, contradicting other signs of a weakening labor market. Initial jobless claims were 233,000 last week, down 17,000 from the previous week and below the Dow Jones forecast of 240,000, the Labor Department said Thursday, providing some relief to markets amid signs of slowing job growth.
— CNBC's Hakyung Kim and Jesse Pound contributed to this report.
Comments are closed.