Tokyo Tower, left, and commercial and residential buildings in the Minato district of Tokyo, Japan, Saturday, October 1, 2022. Photographer: Akio Kon/Bloomberg via Getty Images
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Most Asia-Pacific markets rose on Friday, tracking a rally on Wall Street that saw the S&P 500 gain for a fourth straight day.
Investors in Asia evaluated Japanese CPI data for October. Core inflation, excluding volatile fresh food prices, rose 2.3% from a year ago, slightly above estimates of 2.2%, according to analysts polled by Reuters. This is down from 2.4% in the previous month.
The overall CPI came in at 2.3%, compared to 2.5% in September.
Japan's Nikkei 225 index jumped 0.79% while the broad-based Topix index rose 0.53%.
Elsewhere, Australia's S&P/ASX 200 gained 0.79%.
South Korea Blue Cospi index It rose more than 1% while small-cap Kosdaq rose 0.75%.
The Hang Seng Index in Hong Kong rose by 0.33%, while the CSI 300 Index in mainland China fell by 0.14%.
Singapore's GDP in the third quarter expanded 5.4% from a year ago, significantly exceeding the revised 3.0% in the previous quarter. On a quarterly basis, the economy grew by 3.2%, accelerating from 0.5% in the second quarter, according to the Ministry of Trade and Industry.
The ministry also raised its forecast for economic growth this year by “about 3.5%” from “2.0 to 3.0%.”
Overnight in the US, all three major indexes rose, on track to close the week on a high note.
The Dow Jones Industrial Average rose 462 points, or 1.06%, to 43,270.35 points, while the broader Standard & Poor's 500 index rose 0.53% to close at 5,948.71 points. The Nasdaq Composite Index, which was dominated by technology stocks, rose 0.03% to close at 18,972.42 points.
Crude oil prices rose more than 2% after Putin confirmed that Russia had fired a hypersonic medium-range ballistic missile at Ukraine, and warned that more could follow, the latest in a series of escalations.
