A look at the day ahead in Asian markets from Jamie McGeever.
Regional drivers on Friday include the latest snapshots of consumer price inflation in Tokyo, Australian retail sales, CPI inflation in Malaysia and manufacturing output in Singapore.
Annual core CPI inflation in the Japanese capital is expected to ease to 3.3% in April, a welcome sign for BOJ that inflation has perhaps topped out. Policymakers won't be complacent though - core CPI in Tokyo fell to 3.20% in March from 4.0% in January, only to rise again in April. A strengthening dollar, higher implied Fed rates and rising U.S. bond yields often dampen risk appetite but the momentum in tech stocks, and in particular the euphoria around artificial intelligence, is something to behold.sent the U.S. chipmaker's stock soaring 25% to a record high on Thursday, fueled a rally in AI-related companies, and lifted the Nasdaq 1.7%.
While there is still no official deal in Washington on the debt ceiling, investors are acting like there will be one soon - Democrats and Republicans are just $70 billion apart on discretionary spending cuts which, once agreed, should seal the deal.
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