Cherry blossom trees bloom near Nippon Budokan on Sunday, April 7, 2024 in Tokyo, Japan.
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Asia-Pacific markets were expected to extend Thursday’s gains, following Wall Street’s lead, with the Dow Jones Industrial Average rising for a seventh straight day on hopes of a rate cut.
Overall household spending in Japan fell 1.2% in March from the same period last year, lower than the 2.4% forecast in a Reuters poll of economists. However, on a monthly basis, household spending grew 1.2%, compared with expectations for a 0.3% decline.
Investors will also assess Japan’s trade balance data.
Japan’s Nikkei 225 Index The Chicago futures contract is at 38,460 and the Osaka futures contract is at 38,430, while the index last closed at 38,073.98.
Futures are S&P/ASX 200 Index The opening price will also rise to 7,767 points compared to the last closing price of 7,721.6 points.
Hong Kong’s Hang Seng Index futures were quoted at 18,642 points, opening stronger compared with the Hang Seng Index’s closing point of 18,537.81 points. If the index reaches futures levels, it would reach its highest level in about nine months.
Overnight, all three major U.S. stock indexes rose as new weekly jobless claims data hit their highest level since August, raising expectations that the central bank could cut interest rates at some point this year.
The Dow Jones Industrial Average rose 0.85% at 30 levels, marking its longest winning streak since nine consecutive days of gains in December.this S&P 500 Index increased by 0.51%, while Nasdaq Index up 0.27%.
—CNBC’s Brian Evans and Jesse Pound contributed to this report.
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