Asian stock markets traded mostly higher on Friday, drawing strength from a broadly positive session on Wall Street driven by easing interest rate concerns.
A stronger-than-expected rise in US initial jobless claims sparked optimism that the Federal Reserve may pause its rate hiking cycle, lifting sentiment across the region.
Australia’s benchmark S&P/ASX 200 climbed 23.60 points or 0.33 percent to 7,123.30, moving above the 7,100 level after three consecutive sessions of losses.
Gains were led by miners and financial stocks, while energy shares remained under pressure as crude oil prices continued to slide lower.
Among major miners, Mineral Resources gained more than 1 percent and BHP Group added almost 1 percent, though Rio Tinto edged down 0.3 percent.
Oil stocks including Santos, Beach Energy, and Woodside Energy each lost almost 1 percent, reflecting persistent concerns about the global energy demand outlook.
The big four Australian banks posted modest gains, with National Australia Bank rising almost 1 percent and Westpac, Commonwealth Bank, and ANZ Banking each edging up between 0.2 and 0.5 percent.
Japan’s Nikkei 225 surged sharply, closing the morning session at 32,149.76, up 508.49 points or 1.61 percent, pushing back toward fresh 33-year highs.
Fast Retailing, the operator of Uniqlo, led gainers among large caps with an advance of more than 3 percent, while Honda gained almost 2 percent and Toyota added almost 1 percent.
Konami Group was among the standout performers in Tokyo, surging almost 5 percent, while Daiichi Sankyo and Chugai Pharmaceutical each gained almost 4 percent.
Japan’s M2 money stock rose 2.7 percent on year in May to 1,236.4 trillion yen, according to the Bank of Japan, in line with market expectations following April’s upwardly revised 2.6 percent increase.
Across the broader region, South Korea rose 1.0 percent and Taiwan added 0.9 percent, while China, Hong Kong, and Malaysia each edged up 0.1 percent.
On Wall Street, the Nasdaq jumped 133.63 points or 1.0 percent to 13,238.52, with the S&P 500 climbing 26.41 points or 0.6 percent to 4,293.93, reaching its best closing level in over nine months.
The Dow Jones Industrial Average also rose 168.59 points or 0.5 percent to 33,833.61, rounding out a broadly positive session for US equities.
West Texas Intermediate crude for July fell $1.24 or 1.7 percent to settle at $71.29 a barrel, capping a difficult week for energy markets amid demand uncertainty.
