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Japan’s Nikkei 225 jumps more than 1% as Asia-Pacific markets rise following overnight Dow bounce

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SINGAPORE — Stocks in Asia-Pacific rose Friday morning, following an overnight bounce for stocks stateside.

In Japan, the Nikkei 225 jumped 1.41% in early trade — partially recovering from the more than 2% plunge seen on Thursday. The Topix index gained 1.2%. South Korea’s Kospi advanced 0.78%.

Over in Australia, the S&P/ASX 200 climbed 0.29%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.15% higher.

In corporate developments, investors will watch Hong Kong-listed shares of Chinese tech giant Alibaba after the firm posted its first operating loss as a public company in its fiscal fourth quarter.

Investors will also continue to monitor the coronavirus situation in India, with more than 4,000 Covid-19 deaths reported for the second straight day on Thursday.

Overnight on Wall Street, the Dow Jones Industrial Average jumped 433.79 points to close at 34,021.45 while the S&P 500 gained 1.22% to finish the trading day stateside at 4,112.50. The Nasdaq Composite advanced 0.72% to close at 13,124.99.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.757 after rising earlier this week from below 90.5

The Japanese yen traded at 109.50 per dollar, after weakening earlier in the week from below 109 against the greenback. The Australian dollar was at $0.7722, having declined from levels above $0.78 earlier this week.

Oil prices dipped in the morning of Asia trading hours, with international benchmark Brent crude futures down about 0.1% to $66.99 per barrel. U.S. crude futures sat below the flatline as they traded at $63.81 per barrel.

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