As Fears About the US Recession Fade & Stocks Continue To Rise – Asia Market Wrap

Global share recovery continued in Asia, tracking advances on Wall Street, as signs of strength in the US job market alleviated fears of a recession.

Stocks soared across Japan, South Korea, and Australia. While Hong Kong stocks continued to rise, mainland Chinese stocks fell as thoughts emerged that a better-than-expected inflation print was primarily due to seasonal factors such as the weather. Markets in Singapore are closed.

US market futures rose in Asia, following a Wall Street rise on Thursday. The S&P 500 had its best day since November 2022, while the Nasdaq gained 3.1%.

The Dollar fell, while a gauge tracking emerging-market currencies rose to its highest level since April 2022. Treasury rates moved down in Asia following a three-day rally.