SINGAPORE – Shares in the Asia-Pacific region were higher on Friday as investors weighed down recession fears.
Hong Kongs Hang Bed Index jumped 1% in early trading, with the Hang Seng Tech index rising 1.7%.
Logistics company GoGoX climbed as high as $ 22.90 Hong Kong dollars ($ 2.92) in its stock market debut in the city. The offer price was $ 21.50 Hong Kong.
South Korea Kospi rose 1.92% and Kosdaq rose 3.81%.
In the Japanese markets are Nikkei 225 rose 0.66%, while Topix rose 0.23%.
That S & P / ASX 200 in Australia rose 0.25 per cent. The New Zealand market is closed due to a public holiday on Friday.
MSCI’s broadest index of Asia-Pacific stocks rose nearly 1%.
Core consumer prices in Japan rose 2.1% for the month of May compared to a year earlier, according to estimates according to Reuters. That is above the Bank of Japan’s target of 2% inflation. However, consumer prices rose only 0.8% if fresh food and energy were extracted, Reuters said.
Looking ahead, Reserve Bank of Australia Governor Philip Lowe is also set to talk about inflation later in the day.
Accommodation in the USA, Shares rose in a rally late in the day due to fears of recession. Several major banks this week raised their expectations of a recession.
The Dow Jones Industrial Average rose 194.23 points, or 0.64%, to 30,677.36. The S&P 500 rose 0.95% to 3,795.73, and the Nasdaq Composite rose 1.62% to 11,232.19.
That US dollar indexwhich follows the dollar against a basket of its peers, was at 104,357.
That Japanese yen strengthened to 134.86 per. dollars, and recovered from the 136 levels against the dollar earlier in the week. That Australian dollars was at $ 0.6909, after being on a weakening trend this week.