Asian stock markets soared on Friday, following a robust session on Wall Street, driven by corporate earnings. Hong Kong's market saw the biggest gains after China announced it was considering trade negotiations with the U.S. Mainland China's markets were closed for a holiday. Gold traded around $3,250 per ounce on Friday, heading for its worst week in over two months, as signs of easing trade tensions dampened demand for safe-haven assets. Japan ( NKY:IND ) rose 1.22% jumped 1% to around 36,800 while the broader Topix Index gained 0.5% to 2,693 on Friday. The Japanese yen traded near 146 per dollar on Friday after losing about 1.6% in the previous session, weighed down by easing safe-haven demand amid progress in US-China trade relations. Meanwhile, Japan and the U.S. concluded a second round of bilateral trade talks this week, with Tokyo aiming to finalize an agreement by June. Japan aims to finalize a trade agreement with the U.S. by June, with talks expected to intensify in mid-May, according to Japan’s chief negotiator Ryosei Akazawa after the latest round of discussions in Washington. On the domestic front, Japan’s unemployment rate edged up to 2.5% in March, though the labor market remained relatively tight. China ( SHCOMP ) market closed, the offshore yuan rose to around 7.26 per dollar on Friday, rebounding from the previous session as investor sentiment improved on signs of progress in US-China trade relations. China is considering the possibility of discussing tariffs with the U.S., according to a statement from the Chinese commerce ministry, amid ongoing trade tensions between the two countries. Chinese officials reaffirmed their demand for the US to “correct its wrongdoings” by lifting all unilateral tariffs. Trade tensions have escalated since the Trump administration raised tariffs on Chinese goods in April, prompting retaliatory measures from China. Hong Kong ( HSI ) rose 1.75% India ( SENSEX ) rose 1.08% to 81,125 in Friday morning trade, after being flat in the prior session amid optimism over a potential trade deal between the U.S. and India. Australia ( AS51 ) rose 1.11% slipped 0.1% to around 8,140 on Friday, snapping a six-day winning streak, as mining stocks weighed on the market amid falling metal prices. The Australian dollar climbed above $0.64 on Friday, rebounding from the previous session’s losses. On the domestic front, data showed Australian retail sales rose 0.3% in March, slightly below expectations of 0.4%. Australia's final demand Producer Price Index rose by 0.9% quarter-on-quarter in Q1 2025 , slightly above market expectations of 0.8% and accelerating from a 0.8% increase in Q4 2024. Indonesia’s consumer prices rose by 1.95% y/y in April 2025, accelerating from a 1.03% increase in March, the highest annual reading since August 2024, driven by a rebound in spending during the Eid al-Fitr festivities. In the U.S., on Thursday, all three major indexes ended higher with the Dow Jones adding 70 points, the S&P 500 climbing 0.6% and the Nasdaq Composite jumping 1%, as Big Tech earnings drove gains. U.S. stock futures held steady on Friday as investors digested earnings from tech giants Apple and Amazon, and awaited the release of the April jobs report: Dow +0.86% ; S&P 500 +0.75% ; Nasdaq +0.55% . Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ). More on Asia: Australia Q1 producer price inflation beats estimates; retail sales rises 0.3% in March BOJ keeps rates unchanged, revises down its growth outlook Japan's manufacturing PMI revised upward to 48.7 in April China's manufacturing contracts in April despite stimulus measures Australia inflation steady at 2.4% in Q1, service inflation dips
