Asia-Pacific markets traded higher Friday as investors assess U.S.-Iran diplomatic efforts to reach a peace deal in the Middle East.
In Japan, the Nikkei 225 index built on Thursday’s strength and surged another 1,654.93 points, or 2.7%, to 63,339.07.
Japan’s core inflation eased more than expected in April to its lowest level since March 2022, weakening the case for an early rate hike by the Bank of Japan.
Core inflation — which strips out prices of fresh food — came in at 1.4%, lower than the 1.7% expected by economists polled by Reuters and below the 1.8% reading in March.
Oil prices rose after declining in the previous session. July futures for international benchmark, Brent crude, gained 2.96% to $105.62 U.S. a barrel in Asia trading, while U.S. West Texas Intermediate futures for June advanced 2.46% at $98.68 per barrel.
In Hong Kong, the Hang Seng index recovered 219.51 points, or 0.9%, to 25,606.03.
In other markets;
In Shanghai, the CSI 300 index regained 62 points, or 1.3%, to 4,845.10.
In Taiwan, the Taiex popped 899.76 points, or 2.2%, to 42,267.97
In Korea, the Kospi acquired 32.12 points, or 0.4%, to 7,847.71.
In Singapore, the Straits Times 50 index was positive 22.44 points, or 0.4%, to 5,068.15.
In New Zealand, the NZX 50 climbed 113.24 points, or 0.9%, to 12,991.31.
In Australia, the AZX 200 jumped 35.29 points, or 0.4%, to 8,657.03.
