Asia Markets Rise as Wall Street Rallies; Investors Look Ahead to Bank of Japan Policy Meeting

Asian markets are up after retail sales data from Japan and Australia came in.

Blog

Jun 5, 2023 • 3 min read

This is CNBC Live Blog covering Asia-Pacific markets.

Asia-Pacific markets rose Friday, after Wall Street had one of its best trading days this year, fueled by Big Tech earnings.

Investors will be watching closely as the Bank of Japan finishes its first monetary policy meeting under the new BOJ Governor Kazuo Ueda.

All Japanese markets have been higher with the

Nikkei 225

The Topix index rose by 0.91%, while the Dow Jones increased by 0.86%. Japan will release its March unemployment data in addition to the BOJ meeting.

Australia is the

S&P/ASX 200

The South Korean currency was up by 0.29%.

Kospi

The Kosdaq was up 0.28% and the Dow Jones 0.35%.

Futures linked to Hong Kong

Hang Seng index

19956 is higher than its previous close of 19.840.

Overnight, in the U.S.

Dow Jones Industrial Average

You can also find out more about the following:

S&P 500

The two largest cities in the United States, Los Angeles and New York, both had their best days ever since January, with gains of 1.57% and 1.96%, respectively.

Nasdaq Composite

The market's best day was in March when it rose by 2.43%.

Hakyung Kim and Alex Harring of CNBC contributed to this report

Tokyo inflation ticks above the central bank target

Government data released on Friday showed that the consumer price index for Japan's capital rose by 3.5% in April.

A Reuters poll had predicted a rise of 3.2% for the month after a slightly lower reading of inflation in March.

Tokyo's consumer prices index increased 3.5%, excluding fresh foods

Also above the central banks' inflation target of 2 percent.

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Japanese yen

The dollar was trading at 133.83 shortly after the announcement. The yield on 10-year Japanese Government Bonds was 0.476%. This is close to the upper limit of the tolerance range set by the central bank of 50 basis points between 0% and 0%.

Jihye Le

U.S. economic growth slows down in the first quarter.

The U.S. economy expanded by 1.1% in the first quarter, a much-slower-than-expected pace,

The Commerce Department stated

Dow Jones reported that economists expected a 2% expansion. The report revealed a stronger inflation rate, with prices rising 4% compared to an estimated 3.7%.

Jeff Cox

Communication Services Sector to have best day since February

The sector has seen its best day since February 2, when it last gained about 5.8%.