Japanese stocks reached a new record on Friday, following the surge in U.S. stocks to all-time highs the day before. European markets also saw gains ahead of euro zone inflation data. The future for the S&P 500 rose by 0.1%, while the Dow Jones Industrial Average dropped by 0.1%.
Germany's DAX climbed by 0.4% to 17,746.65, while Paris' CAC 40 slightly decreased by less than 0.1% to 7,921.31. London's FTSE 100 was up by 0.5% at 7,670.35.
In Asia, Tokyo's Nikkei 225 surged by 1.9% to close at 39,940.00, surpassing its previous record set during the financial euphoria in 1989. Japan's unemployment rate decreased to 2.4% in January, but the purchasing managers index for manufacturing activity fell to 47.2 in February, indicating subdued demand in both domestic and international markets.
Hong Kong's Hang Seng rose by 0.5% to 16,589.44, and the Shanghai Composite index increased by 0.4% to 3,027.02. China's manufacturing activity contracted for the fifth consecutive month in February with a reading of 49.1, according to the National Bureau of Statistics.
Investors are eagerly awaiting policies to stimulate the economy at China's upcoming National People's Congress, where the annual GDP growth target will be announced. South Korea's market was closed for a holiday.
Elsewhere in Asia, Australia's S&P/ASX 200 advanced by 0.6% to 7,745.60, and Bangkok's SET was up by 0.1%. In Wall Street on Thursday, the S&P 500 reached a new high of 5,096.27, while the Nasdaq composite surged by 0.9% to 38,996.39, surpassing its previous all-time high.
The bond market saw yields ease after an inflation report showed prices rose as expected last month, alleviating concerns of a significant acceleration in inflation. The Federal Reserve is considering interest rate cuts starting in June to support the economy and investment prices.
U.S. benchmark crude oil rose by 27 cents to $78.53 per barrel, while Brent crude gained 6 cents to $81.97 per barrel. The dollar strengthened against the Japanese yen and the euro.
