Asia-Pacific markets opened higher Friday, with several exchanges in the region closed for the Boxing Day holiday.
Silver
prices continued rising and hit another high, after notching a record Wednesday. Spot silver rose more than 4% on Friday to reach an all-time high of $74.89 per ounce.
Silver has rallied over 159% year to date. Metal prices have soared this year amid shaky investor sentiment on riskier assets, as fears of an AI bubble and uncertainty over U.S. Fed rate cuts mount.
Japan’s benchmark Nikkei 225 index rose 0.47%, led by gains in real estate and tech stocks, while the Topix was up 0.27%. Among the top movers were video game developer Nexon, which was up 2.17%, and tech giant SoftBank, which climbed 2.06%, snapping a three-session streak of losses.
Core consumer prices in the country’s capital Tokyo rose 2.3% in December from a year earlier, according to government data Friday. The core CPI, which strips out volatile fresh food costs, remained above the Bank of Japan’s 2% target, reinforcing the case for more interest rate hikes.
The latest reading was below the 2.5% rise expected by economists polled by Reuters and the 2.8% increase in November. Tokyo’s inflation numbers are widely considered to be a leading indicator of nationwide trends.
South Korea’s Kospi index added 0.53%, and the small-cap Kosdaq advanced 0.42%.
China’s CSI 300 fell 0.15% at the open.
Australia and Hong Kong markets were closed for the holiday.
U.S. equity futures ticked slightly higher in early Asian hours, after the S&P 500 closed at a new record for the second straight day on Wednesday stateside.
The broad market index advanced 0.32%, ending the session at 6,932.05. The Dow Jones Industrial Average gained 288.75 points, or 0.60%, and also posted a closing record of 48,731.16. The Nasdaq Composite advanced 0.22% and settled at 23,613.31.