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.

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

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%.


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%.


After a period of growth, the sector has seen a steady increase in profits.

posting first-quarter results

The stock exceeded analysts' expectations. The stock of the tech company was up over 15%.

-- Sarah Min

First Republic shares stabilize

Shares of a struggling regional bank

First Republic

On Thursday, the stock prices were up after two days with heavy selling.

The stock is trading at less than $7 per share, despite a rise of 71 cents or 12%.

First Republic's shares closed Monday at 16 dollars per share, before the bank announced its first-quarter results. The bank revealed that deposits had shrunk by approximately 40% during the first three months.

CNBC reported that First Republic, along with its advisors, are trying to convince other banks to purchase some of First Republic's assets at rates above the market rate in order to reshape First Republic's balance sheet.

-- Jesse Pound

Meta's price target is updated by analysts after earnings beat expectations

Facebook is owned by Facebook


Analysts are now more optimistic than ever after a better-than-expected quarter.

Goldman Sachs and JPMorgan Chase, as well as Citigroup, have all updated their price targets on the stock.

Morgan Stanley's Brian Nowak, who wrote Thursday on the subject of infrastructure efficiency, said that "developing more open-source models (including LLMs), and helping to create an open eco-system is another area where focus should be placed. An open ecosystem will enable META and its partners to remain at the forefront as well as drive infrastructure efficiency with time."

Meta exceeded Wall Street expectations on adjusted earnings per share as well as revenue

Stocks rose as high as 12% following the results.

Doug Anmuth, JPMorgan analyst, said: "Meta earnings demonstrate the company's commitment towards cost discipline and accelerating NT revenue growth while continuing to invest longer-term transformational technology like AI and metaverse."

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Brian Evans