Asia-Pacific stocks climb following Wall Street rally

Asia-Pacific stocks climb following Wall Street rally

SINGAPORE — Shares in Asia-Pacific rose in Friday morning trade following overnight gains on Wall Street with the S&P 500 jumping nearly 2%.

In Japan, the Nikkei 225 climbed 0.81% while the Topix index advanced 1.02%. South Korea’s Kospi gained 0.93%.

Australian stocks edged higher as the S&P/ASX 200 rose 0.54%.

MSCI’s broadest index of Asia-Pacific stocks outside Japan traded 0.33% higher.

Hong Kong stocks are set to return to trade on Friday after markets in the city were closed for two days.

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Overnight on Wall Street, the S&P 500 surged 1.71% to 4,428.26 — its biggest jump since March — as investors cheered better-than-expected earnings reports from major firms such as Bank of America.

The Dow Jones Industrial Average gained 534.75 points to 34,912.56 while the Nasdaq Composite advanced 1.73% to 14,823.43.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 94.036 having weakened earlier this week from above 94.5.

The Japanese yen traded at 113.81 per dollar, still weaker than levels below 112.8 seen against the greenback earlier this week. The Australian dollar changed hands at $0.7415 following its climb from below $0.74 yesterday.

Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up 0.42% to $84.35 per barrel. U.S. crude futures gained 0.44% to $81.67 per barrel.

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