Higher In Asia On Wall St. Lead

Asia-Pac equity indices are mostly higher at typing, tracking a strong performance from Wall St. A note that Chinese and Hong Kong markets are closed today.

• The Japanese Nikkei 225 sits 1.1% firmer at typing after opening higher, operating a little below one-month highs made earlier in the session. Index heavyweight Fast Retailing Co (+5.8%) contributed the most to gains, rising in early trading after a positive earnings beat from international business unit UNIQLO late on Thursday.
• The ASX200 deals 0.8% firmer at typing, unwinding much of Thursday’s losses in the process. Tech and material-related names lead gains in the benchmark index, with the S&P/ASX All Technology Index adding 1.9% at writing, on track to snap three consecutive days of losses. The Australian tech stock gauge currently sits a little above two-year lows, having recorded losses in four of five months in ‘22 (leading up to May). Elsewhere, the ASX200’s Materials sub-index (+2.6%) now sits a little below one-month highs previously made on May 25, with the gauge on track to record the most gains in a day on outperformance in the major mining stocks.
• The KOSPI lagged regional peers, trading 0.4% higher at writing. The Korean equity benchmark pared gains from a higher open following comments from the BoK’s deputy chief saying that high inflation may continue for a “considerable” amount of time, with the central bank expecting 5% inflation to persist in June and July.
• U.S. e-mini equity index futures are ~0.1% better off apiece at typing, with NASDAQ contracts sitting a little below one-month highs made earlier in the session.