Asian markets were mixed Friday after a rally in US technology stocks lifted Wall Street a day earlier.
Japan’s Nikkei 225 rose 1.3% to close at 65,020.94, while South Korea’s Kospi gained 1.7% to 6,690.72. Hong Kong’s Hang Seng jumped 1.8% to 25,658.73.
Australia’s S&P/ASX 200, however, fell 0.2% to 9,005.90, while the Shanghai Composite dropped 0.5% to 3,921.40.
On Wall Street, stocks finished higher Thursday as a recent rise in bond yields eased and major technology companies posted gains. The S&P 500 climbed 1.1%, the Dow Jones Industrial Average rose 1.2% and the Nasdaq composite advanced 1.4%.
Technology and communication services companies led much of the rally. Microsoft gained 2.7%, Apple rose 1% and Meta jumped 3%. Nvidia, the leading maker of advanced chips used in artificial intelligence systems, added 1.8% after announcing a $13 billion deal to acquire AI platform Hugging Face.
In energy markets, US benchmark crude rose 21 cents to $91.51 a barrel, while Brent crude slipped 2 cents to $95.50.
Energy prices have risen sharply amid the six-month US war with Iran, which has intensified in recent days. The Strait of Hormuz is particularly important because many countries rely on the route to bring Middle Eastern oil to global markets.
Iran fired on Kuwait on Thursday in retaliation for US airstrikes earlier in the week.
The yield on the 10-year US Treasury note, which affects mortgage and other borrowing costs, eased to 4.77% from 4.79% late Wednesday. The yield has climbed steadily this year after starting 2026 at around 4.20%.
Investors are also assessing the Federal Reserve’s next interest-rate decision. Recent comments by Fed Governor Christopher Waller have raised expectations that the central bank may keep its benchmark rate unchanged at its meeting in two weeks if upcoming data shows inflation is slowing.
Waller said he would be inclined to leave rates unchanged if inflation cools but could support a rate hike if the figures show prices are rising faster than expected.
Markets are also watching the Bank of Japan, which is due to meet later this month. Some analysts expect the central bank to raise its benchmark rate, although the size of any increase remains uncertain. A higher rate could also help support the Japanese yen.
In currency trading, the US dollar rose slightly to 156.18 yen from 155.84 yen. The euro was trading at $1.1632, little changed from $1.1631.