Asian Stocks Rise Amid Wall Street Rally and Falling Oil Prices
Asian stock markets mostly rose on Friday, boosted by the rally on Wall Street and declining oil prices. Japan's benchmark Nikkei 225 index surged 1.9% to 65,332.57 after the Bank of Japan raised its benchmark interest rate to 1.25%, a 31-year high.
The move was widely anticipated, following the Federal Reserve's decision to raise its key rate this week. The US dollar gained against the Japanese yen, rising to 157.11 from 155.95 yen.
In other markets, South Korea's Kospi jumped 2.3% to 6,866.83, while Australia's S&P/ASX 200 was little changed, slipping less than 0.1%. Hong Kong's Hang Seng edged up nearly 0.7%, and the Shanghai Composite added 1.0%.
The rally on Wall Street was also driven by falling oil prices, with Brent crude dropping 0.94% to $103.83 a barrel, and US crude sliding 0.83% to $101.06 a barrel. The recent decline in oil prices helped ease pressure on stocks and pulled yields lower in the bond market.