The sails of the Opera House are illuminated with projections on the opening night of Vivid Sydney 2023 in Sydney, Australia, on Friday, May 26, 2023.
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Asia-Pacific markets are set to open higher on Friday, extending gains from Thursday as Wall Street’s tech rally continued.
In Asia, investors will react to August inflation figures out from India late Thursday, with showed that the consumer price index rose 3.65% year on year, rising from a five-year low. This was above July’s revised figure of 3.6% and also beat expectations of 3.5% from economists polled by Reuters.
Australia’s S&P/ASX 200 is set to rise and breach its all-time closing high of 8,114.7, with futures standing at 8,115 compared to from its last close of 8,075.7.
Japan’s Nikkei 225 could go either way based off futures data, with the contract in Chicago at 36,945 and its counterpart in Osaka at 36,660 compared to the previous close of 36,833.27.
Hong Kong Hang Seng index futures were at 17,294, higher than the HSI’s last close of 17,240.
Futures for mainland China’s CSI 300 stood at 3,176, just slightly higher than the index’s last close, a near six-year low of 3,172.47 on Thursday.
Overnight in the U.S., the S&P 500 gained 0.75%, marking a four-day winning streak. The Dow Jones Industrial Average rose 0.58%, while the Nasdaq Composite saw the largest gain, rising 1%.
Thursday saw the last major data point for the U.S. economy before the Federal Reserve meeting next week, as the country’s producer price index rose 0.2% month on month, in line with expectations from Dow Jones. On a year-on-year basis, headline PPI rose 1.7%.
—CNBC’s Pia Singh, Jeff Cox and Sarah Min contributed to this report.