- China offers $325 bn in fiscal stimulus for ailing economy
- Dodgers drop Padres 2-0 to advance in MLB playoffs
- Alexei Navalny wrote he knew he would die in prison in new memoir
- Last-minute legal ruling allows betting on US election
- Despite hurricanes, Floridians refuse to leave 'paradise'
- Israel observes Yom Kippur amid firestorm over Lebanon strikes
- Trump demonizes migrants in dark, misleading speech
- X says 'alert' to manipulation efforts after pro-Russia bots report
- US, European markets rise before Boeing unveils sweeping job cuts
- Small Quebec company dominates one part of NHL hockey: jerseys
- Comoros shock Tunisia, Salah, Mbeumo strike in AFCON qualifiers
- Boeing to cut 10% of workforce as it sees big Q3 loss
- Germany win in Nations League as 10-man Dutch rescue point
- Undav brace sends Germany to victory against Bosnia
- Israel says fired at 'threat' near UN position in Lebanon
- Want to film in Paris? No sexism allowed
- Ecuador's last mountain iceman dies at 80
- Milton leaves at least 16 dead, millions without power in Florida
- Senegal set to announce breakaway development agenda: PM
- UN says 2 peacekeepers wounded in south Lebanon explosions
- Injury-hit Australia thrash 'embarrassing' Pakistan at Women's T20 World Cup
- Internal TikTok documents show prioritization of traffic over well-being
- Israel says fired at 'immediate threat' near UN position in Lebanon
- New US coach Pochettino hails Pulisic but worries over workload
- Brazil orders closure of 2,000 betting sites
- UK govt urged to raise pro-democracy tycoon's case with China
- Sculptor Lalanne's animal creations sell for $59 mn
- From Tesla to Trump: Behind Musk's giant leap into politics
- US, European markets rise as investors weigh rates, earnings
- In Colombia, children trade plastic waste for school supplies
- Supercharged hurricanes trigger 'perfect storm' for disinformation
- JPMorgan Chase profits top estimates, bank sees 'resilient' US economy
- Djokovic proves staying power as he progresses to Shanghai semi-finals
- Sheffield Utd boss Wilder 'numb' after Baldock death
- Little progress at key meet ahead of COP29 climate summit
- Fans immerse themselves in Marina Abramovic's first China exhibition
- Israel says conducting review after UN peacekeepers wounded in Lebanon
- 'Party atmosphere': Skygazers treated to another aurora show
- Djokovic 'overwhelmed' after 'greatest rival' Nadal's retirement
- Zelensky in Berlin says hopes war with Russia will end next year
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Djokovic proves staying power as progresses to Shanghai semi-finals
- Hurricane Milton leaves at least 16 dead as Florida cleans up
- Britain face 'ultimate challenge' in America's Cup duel with New Zealand
- Lebanon calls for 'immediate' ceasefire in Israel-Hezbollah war
- Nihon Hidankyo: Japan's A-bomb survivors awarded Nobel
- Thunberg leads pro-Palestinian, climate protest in Milan
- Boat captain rescued clinging to cooler in Gulf of Mexico after storm Milton
- Tears, warnings after Japan atomic survivors group win Nobel
Asian markets advance after record rallies
Asian shares climbed Friday following a day of record highs in Japanese, US and European markets after demand for AI-powering chips drove tech gains.
Investors celebrated on Thursday as bumper profits reported by US chip giant Nvidia, seen as a bellwether for the artificial intelligence boom, helped boost Tokyo's benchmark index past a record high set in 1989.
The Nvidia and AI excitement prompted a broader rally in tech shares, with Wall Street and eurozone indices hitting fresh records.
"Investors in Asia are entering Friday's trading session riding the bull of optimism, buoyed by the U.S.-led surge in mega tech stocks that has fueled a global stock market boom," Stephen Innes, managing partner of SPI Asset Management, said in a note.
"The remarkable ascent witnessed across global markets on Thursday, driven by Nvidia's impressive 16.5% surge, is expected to set a positive tone for Asian markets on Friday."
Shanghai, Sydney, Seoul, Taipei, Wellington and Mumbai, as well as Bangkok, Manila and Kuala Lumpur were all trading higher. Jakarta and Singapore were down, while Hong Kong was flat.
Tokyo markets are closed Friday for a public holiday, following the Nikkei 225's record close up 2.2 percent at 39,098.68, boosted by Nvidia's quarterly gains.
Nvidia shares on Thursday surged more than 16 percent, lifting its market value to almost $2 trillion, after it reported quarterly profits rose to $12.3 billion on record high revenue.
Tom Hulick at Strategy Asset Managers told Bloomberg that demand for AI was "surging worldwide across companies, industries and nations".
"We own NVDA and continue to hold the company. This is an exciting momentum play that we have been promoting and participating with for a few years now," he added.
On Thursday, three US Federal Reserve officials signalled interest rate cuts would more than likely come later this year, with one suggesting he wanted to see "at least another couple more months of inflation data" before deciding when to start lowering rates.
In China, data released Thursday showed the number of foreclosed properties for sale in the country increased at a faster pace last month, according to Bloomberg, reflecting the second-largest economy's struggling housing sector.
Innes said it was too early to judge the effectiveness of Beijing's move this week to cut a key lending rate, a measure intended to support the country's beleaguered economy, but traders would be eyeing the release of Chinese house price data on Friday.
"Over the past two years, house prices in China have consistently declined year-on-year," he said.
"A reversal to growth in these prices would instill confidence among investors that the worst of the property sector downturn has passed and that the economy is on a more stable footing."
- Key figures around 0230 GMT -
Tokyo - Nikkei 225: Closed for holiday
Hong Kong - Hang Seng Index: FLAT at 16,738.46
Shanghai - Composite: UP 0.1 percent at 2,991.06
Euro/dollar: DOWN at $1.0825 from $1.0826 on Thursday
Dollar/yen: DOWN at 150.45 yen from 150.54 yen
Pound/dollar: UP at $1.2662 from $1.2660
Euro/pound: UP at 85.50 pence from 85.47 pence
Brent North Sea Crude: UP 0.4 percent at $78.32 per barrel
West Texas Intermediate: UP 0.3 percent at $83.42 per barrel
New York - Dow: UP 1.2 percent at 39,069.11 (close)
London - FTSE 100: UP 0.3 percent at 7,684.49 (close)
Ch.Kahalev--AMWN