Asian equity benchmarks are trading in the green on Friday, following the overnight gains on Wall Street as comments by New York Federal Reserve President John Williams raised hopes of a deeper than expected interest rate cut by the central bank later this month. In addition, a positive revenue outlook from Taiwan Semiconductor Manufacturing Company and better-than-expected fourth-quarter earnings results from Microsoft Corporation boosted tech stocks in Asia. The Japanese market is advancing, recovering some of the sharp losses in the previous session, amid rising optimism about an interest rate cut by the Federal Reserve. Among the other Asian markets, Shanghai, Indonesia, Malaysia Singapore, South Korea, Hong Kong, and Taiwan are in positive territory.
Nikkei 225 increases 406.63 points or 1.93% to 21,452.87, Straits Times up by 14.23 points or 0.42% to 3,375.28, Hang Seng climbs to 310.80 points or 1.09% to 28,772.46, Shanghai jumps to 29.40 points 1.01% to 2,930.58, Jakarta Composite increases by 41.84 points or 0.65% to 6,445.13, FTSE Bursa Malaysia KLCI climbs to 8.81 points or 0.53% to 1,657.74, Taiwan Weighted increases by 89.92 points or 0.83% to 10,889.20, and KOSPI Index up by 26.11 points or 1.26% to 2,092.66.
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