Australian shares are set to open higher, after US stocks regained previous losses.

ASX futures were up 1.0% or 72 points as of 8:30am on Friday, suggesting a higher open.

U.S. stocks snapped a brief losing streak helped by gains in the technology sector.

The DJIA gained 201 points to 37468, the S&P 500 rose 0.9% to 4780 and the Nasdaq climbed 1.4% to 15055.

In commodity markets, Brent crude oil rose 1.4% to US$78.97 a barrel while gold was up 0.8% to US$2,022.67.

In local bond markets, the yield on Australian 2 Year government bonds was up at 3.93% while the 10 Year yield was up at 4.26%. US Treasury notes were mixed, with the 2 Year yield unchanged at 4.35% and the 10 Year yield up at 4.14%.

The Australian dollar hit 65.60 US cents up from the previous close of 65.50. The Wall Street Journal Dollar Index, which tracks the US dollar against 16 other currencies, was down at 97.99.


Chinese shares rebounded after a major selloff earlier in the session, supported by semiconductor stocks. The Shanghai Composite Index rose 0.4% to end at 2845.78 after falling in the morning to its lowest level since April 2020. The Shenzhen Composite Index gained 0.2% and the Chinext Price Index was up 1.9%. Semiconductor Manufacturing International Corp. added 2.1% and LONGi Green Energy Technology advanced 7.0%. Investor sentiment was likely lifted by TSMC's better-than-expected 4Q results, Maybank head of retail research Sonija Li said. As global chip inventories are running low and with more AI PC and smartphone models to be launched, there will likely be a pick-up in chip restocking demand, she added. Tech hardware stocks rallied as well, with Foxconn Industrial Internet 8.1% higher.

Hong Kong shares closed higher, snapping a four-session losing streak. The benchmark Hang Seng Index rose 0.75% to 15391.79, while the Hang Seng Tech Index closed 0.5% higher. However, investor sentiment over China's economy remains cautious amid concerns relating to the property-sector downturn and a lack of confidence in Chinese markets, Citi analysts said in a note. Tech and property stocks gained, with New World Development up 4.2% and Baidu rising 3.05%. Hang Lung Properties rose 2.2%. Meanwhile, energy and consumer stocks led losses. PetroChina and Li Ning fell 1.4% and 1.35%, respectively. China Mengniu Dairy slipped 0.3%.

The Nikkei Stock Average closed flat at 35466.17 as drops in pharmaceutical and chemical stocks offset gains in carmakers. Ono Pharmaceutical lost 4.2% and Kao dropped 2.4% while Toyota Motor gained 2.6% and Mazda Motor rose 2.3%. Broader market index Topix fell 0.2% to 2492.09. Investors are focusing on U.S. economic indicators and their policy implications. The 10-year Japanese government bond yield rose 4.5 basis points to 0.650%.

Indian shares ended lower amid subdued global sentiment. Upbeat December U.S. retail sales data eroded expectations the U.S. Federal Reserve would kick off its rate-cut campaign as early as March and weighed on investor sentiment, ICICIdirect said in a research note. HDFC Bank continued to drop after weaker-than-expected 3Q earnings, ending 3.3% lower. Utilities stocks fell broadly, with NTPC down 3.2% and Power Grid Corp. of India off 2.4%. Tech Mahindra rose 2.1% and Tata Motors added 1.7%. Reliance Industries, UltraTech Cement and Hindustan Zinc are due to report fiscal 3Q results Friday. The benchmark Sensex ended 0.4% lower at 71186.86.


European stocks closed higher, recovering after Wednesday's sharp losses, with the pan-European Stoxx Europe 600 index up 0.6% at 470.45, helped by U.S. jobless claims dropping to a 16-month low and gains in U.S. technology stocks. "After a dismal start to the week, European stock indices managed to regain some recently lost ground alongside their U.S. counterparts," IG analysts write. Still, concerns remain that investors' expectations for when central banks will start cutting interest rates are overly optimistic. Technology stocks rose strongly, helping France's CAC-40 to outperform, ending up 1.1% while Germany's DAX closed up 0.8%. U.K. stocks continued to underperform European peers after Wednesday's unexpected rise in U.K. inflation.

The FTSE 100 closed Thursday up 0.17%, the first day of reprieve this week. After a dismal start to the new year, the index--together with similarly poorly performing European peers--managed the regain some recently lost ground, IG Group senior market analyst Axel Rudolph says in a research note. This comes alongside a pick up in U.S. stocks as U.S. building permits rose more than expected, jobless claims plunged to a 16-month low and the S&P information technology sector hit a record high, Rudolph says.

North America

U.S. stocks snapped a brief losing streak helped by gains in the technology sector.

The DJIA gained 201 points to 37468, the S&P 500 rose 0.9% to 4780 and the Nasdaq climbed 1.4% to 15055.

Chip stocks got a boost after Taiwan Semiconductor issued a stronger outlook than expected by analysts.

Economic data continue to come in strong as initial jobless claims fell to 187,000 last week, the lowest since September 2022. The news helped lift Treasury yields as investors think the Fed may be slower to cut interest rates.

Humana lost 8% and weighed on its managed-care competitors after warning that medical costs were running higher than expected.