Asian stocks are moving higher on Friday, following gains on Wall Street where indices are heading for the first positive week after three weeks of heavy losses.
On the board, the Japanese Nikkei 225 index rose 1.2% to 26,491.97 points.
In Hong Kong the Hang Seng index gained 2%, while in mainland China the Shanghai Composite strengthened by 0.9%.
In South Korea the Kospi index jumped 2.5%, while in Australia the S & P / ASX 200 gained 0.75%. Indicators in India and Taiwan are also gaining ground.
Investors continue to monitor central bank moves to tighten their policies to counter the global inflation rally. The head of the US Federal Reserve, Jerome Powell speaking yesterday in Congress on the second day of its six-month deposit, he acknowledged that a recession in the US is clearly possible now, although he stressed that the central bank is not trying to cause it in order for inflation to fall.
Data released today in Japan showed that inflation remained at 2.1% in May, while structural inflation, excluding energy and food, stood at 0.8%, leaving room for the country’s central bank not to follow the example of the US Federal Reserve and other central banks that make successive rate hikes to meet the price rally.