- A cautious expectation that strong post-market US tech earnings will lead to a Wall Street rally underpinned Asian markets trading higher.
- South Korean and Japanese stocks were also rising, although Hong Kong and Japan shares led the gains throughout Asia. After statistics on industrial businesses' profits indicated growth, albeit slightly softer than in the previous period, mainland Chinese shares crept higher.
- Following a 1.9% decline in the underlying benchmark on Thursday, contracts on the Nasdaq 100 saw an increase during the Asian session. Following the tech-heavy index's decline to its lowest level since May, Amazon and Intel both saw gains in after-trade hours. The US futures rise suggests an early recovery when Wall Street trading resumes following the S&P 500's near-correction finish.
- Hebe Chen, an analyst at IG Markets in Melbourne, said that better US GDP growth, a less severe industrial profit drop in China, and earnings beats by US tech titans "bake into a long-awaited relief for stressed investors." "Investors are holding their breath for the FOMC meeting next week, which is poised to set the tone for the remainder of the year," as the month draws to a close.