Asian Equities Expected Higher after S&P’s Record Close

A record high finish on Wall Street will likely deliver a boost to Asian stocks on Friday.  Japan’s Nikkei 225 is set to recover from Thursday’s close at the lowest for this week. Chicago and Osaka futures traded at 19,700 and 19,650, both higher than the benchmark index’s previous close of 19,570.

Australian shares are also expected to see a positive start after local futures notched up 0.6 percent to 5,723, a 27-point premium to the underlying S&P ASX 200 index.

Overnight, U.S. major indexes rallied one percent higher each on the back of calmer bond markets and a weaker dollar. The S&P 500 set a new closing record of 2121 after a 1.08 percent surge. The Dow Jones Industrial Average and tech-heavy Nasdaq rose 1.06 and 1.39 percent, respectively, to come within 50 points of their record highs.