Asian equity markets were poised to rise on Friday after solid earnings from technology companies led to gains on Wall Street, offsetting the impact of a report showing slowing US economic growth and higher-than-forecast inflation that caused Treasuries to dip.
Futures for benchmarks in Hong Kong, Japan and Australia all pointed to advances, with the latter two poised to notch monthly gains. The S&P 500 on Thursday jumped 2%, the most since January, and the tech-heavy Nasdaq 100 rose 2.8% as a surge in advertising revenue helped Meta Platforms Inc. beat analyst estimates for profit, pushing the company’s shares 10% higher. Amazon Inc. shares, however, fell in post-market trading.
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