Asia Tracks Wall Street Gains

Asia-Pacific markets climbed Friday, after the S&P 500 hit record highs overnight as U.S. President Donald Trump called for lower interest rates and cheaper oil prices.In Japan, the Nikkei 225 ended its win streak, dropping 26.89 points, or 0.1%, to 39,931,98. The Bank of Japan raised policy rate by 25 basis points to 0.5% — the highest since 2008 and in line with economists’ expectations. Following the decision, the Japanese yen weakened marginally to trade at 155.18 against the dollar.Earlier on Friday, Japan reported its core inflation rate rose to a 16-month high of 3% in December, year on year.In Hong Kong, the Hang Seng index ballooned 385.63 points, or 1.9%, to 20,066.19. On Friday, Singapore’s central bank eased its monetary policy in line with market expectations, given the rise in core inflation levels in December.The city-state also reported that its factory output expanded 10.6% year on year, surpassing the 6.4% predicted by economists polled by Reuters.Output rose for a sixth straight month in December, led by the transport engineering, electronics and biomedical manufacturing sectors, data released by Singapore’s Economic Development Board showed.In other marketsMarkets in Taiwan remained shuttered for holiday. China’s CSI 300 gained 29.12 points, or 0.8%, to 3,832.86In Singapore, the Straits Times index slipped 2.31 points, or 0.1%. to 3,804.76In Korea, the Kospi index revived 21.31 points, or 0.9%, to 2,536.80. In New Zealand, the NZX 50 settled 35.38 points, or 0.3%, to 13,024.70In Australia, the ASX 200 regained 30.16 points, or 0.4%, to 8,408.87