Asian markets rise on softer oil, lower treasury yields

Mettis Global reported that Asian stock markets moved higher on Friday, helped by US share gains, softer oil and lower Treasury yields. South Korea's Kospi led the region with a 2.67% advance, while Japan's Nikkei 225 rose 1.90%. The broader Topix edged up 0.17%, the Kosdaq gained 0.45%, Hong Kong's Hang Seng added 0.67% and China's CSI 300 increased 1.05%.

Crude fell as worries about supply disruptions eased, after reports that Saudi Arabia would supply extra cargoes to Asian refiners via ship-to-ship transfers off Oman's Sohar port. A good session in New York had also lifted sentiment, with the Dow Jones Industrial Average up 316 points, or 0.6%, the S&P 500 gaining 1.1% and the Nasdaq Composite advancing 1.7%.

US stocks had slid sharply the previous day after the Federal Reserve raised rates by a quarter point and signalled at least one more increase this year. Tech shares drove Thursday's rebound as buyers turned back to the AI investment cycle and its potential for corporate earnings, even though rate and inflation worries persisted. Investors are also awaiting Fed Governor Michelle Bowman and Kansas City Fed President Jeffrey Schmid later on Friday. Mettis Global added that the Dow was down 1.5% for the week, on course for a third straight weekly drop, while the S&P 500 fell 0.3% and the Nasdaq rose 0.3%.