Asian stock markets climbed broadly on Friday, drawing momentum from a positive session on Wall Street driven by the US Federal Reserve’s decision to pause rate hikes.
The Fed’s move ended a streak of ten consecutive interest rate increases, giving traders renewed confidence in the near-term outlook for monetary policy globally.
Investors across the region also kept a close watch on the Bank of Japan’s rate decision, which was expected later in the day and added an element of caution to trading.
Australia’s benchmark S&P/ASX 200 extended its winning run into a fifth consecutive session, breaking above the 7,200 level as gains spread across most sectors of the market.
The S&P/ASX 200 Index rose 43.50 points, or 0.61 percent, to 7,218.80, after touching an intraday high of 7,221.60 during the session.
The broader All Ordinaries Index also advanced, gaining 46.60 points or 0.63 percent to reach 7,416.60 as buying pressure remained steady throughout the morning.
Mining and technology stocks led the Australian market higher, with energy shares also posting strong gains amid a spike in crude oil prices.
Among the major miners, Mineral Resources surged more than 3 percent, while BHP Group edged up 0.1 percent, though Rio Tinto and Fortescue Metals each slipped by close to 1 percent.
Across the broader Asia-Pacific region, markets in New Zealand, China, Hong Kong, Singapore, and South Korea each gained between 0.2 and 0.6 percent on the day.
Malaysia, Taiwan, and Indonesia bucked the regional trend, each declining by between 0.1 and 0.3 percent as some markets struggled to sustain upward momentum.
The rally in Asia followed a strong session on Wall Street, where the Nasdaq and S&P 500 closed at their highest levels in more than a year.
The Dow Jones Industrial Average also posted a notable move, recording its best closing level in six months as investor optimism spread across major indices.
Traders welcomed the Fed’s pause as a potential signal that the aggressive tightening cycle that defined much of the past year may be nearing its end.
