- Asian equities are on track for a third weekly gain, aided by expectations of additional stimulus from China.
- Chinese, Australian, and South Korean benchmarks all rose on Friday. The Hang Seng Index in Hong Kong advanced, putting it on track for its second week of gains in excess of 2%, as concerns about Chinese growth gave way to hopes for additional policy support.
- After a strong rally earlier in the week, Japanese stocks bucked the trend, falling. The yen reversed a small gain to fall 0.3% against the dollar after the Bank of Japan maintained its negative rate and yield curve control program.
- The S&P 500 gained for the sixth day on Thursday, extending its winning streak to its longest since November 2021. The Nasdaq 100 reached its highest level since March 2022, aided by the fervor surrounding artificial intelligence, which has also raised concerns about an overbought market.
- The Asia index is on track for its best run of weekly gains since January, when excitement over China's reopening lifted stocks across the region.
- Futures in the United States and Europe were slightly lower, while bets that the Federal Reserve will soon end its tightening cycle boosted risk sentiment.
