Asia-Pacific markets traded higher Friday, tracking Wall Street gains after two key benchmarks hit new records on the heels of the recent Federal Reserve decision to cut rates, reports CNBC.
The US central bank on Wednesday lowered its key overnight borrowing rate by a quarter percentage point, putting it in a range of 3.5-3.75 per cent.
Japan's benchmark Nikkei 225 rose 1.37 per cent to close at 50,836.55, while the Topix added 1.98 per cent to end the trading day at 3,423.83.
South Korea's Kospi advanced 1.38 per cent to 4,167.16, while the small-cap Kosdaq rose 0.29 per cent to 937.34.
Australia's benchmark S&P/ASX 200 was 1.23 per cent higher at 8,697.3. India's Nifty 50 was up 0.6 per cent. The rupee weakened to a record low of 90.55 against the dollar.
Hong Kong's Hang Seng index added 1.75 per cent, while the mainland's CSI 300 rose 0.63 per cent to 4,580.95.
China's top leaders wrapped up an annual economic planning meeting Thursday by affirming broad economic support for the year ahead, including boosting consumption and stabilizing the property sector.
Policymakers remained focused on bolstering domestic tech capabilities, a key priority for the upcoming five-year plan that kicks off in 2026.
Meanwhile, European markets were in positive territory on Friday, buoyed by Wall Street's record-breaking rally on Thursday.
The pan-European Stoxx 600 was 0.2 per cent higher at 2:20 pm in London (9:20 am ET).
Global investors were watching the latest developments between Ukraine and Russia on Friday amid warnings by NATO Secretary General Mark Rutte that Europe must be prepared for war.
On individual stocks, French private equity Wendel leads the European index with gains of 5.4 per cent, having moved 6 per cent in early dealmaking, amid reports that it will hand out 1.6 billion euros ($1.88 billion) to investors by 2030.
At the other end of the index is new arrival, Magnum, which fell 1.6 per cent from the previous session but pared some earlier losses.
