**Ramadan’s Last Friday Feast**
In the holy month of Ramadan, Muslim devotees across India gathered at the historic Jama Masjid in New Delhi on the last Friday, known as Jumat-ul-Vida, for their evening meal.
**Market Momentum Sustained**
Following Monday’s gains, Asia-Pacific markets continued their upward trajectory, boosted by renewed optimism in technology stocks and anticipation of positive business activity data.
**PMI Indicates Growth**
Australia’s composite purchasing managers index (PMI) surged to a two-year high of 53.6 from 53.3 in March, signaling robust growth in the country’s private sector. Japan and India’s PMI figures are expected to be released later today, adding further insight into regional economic activity.
**Index Performances**
- The S&P/ASX 200 opened 0.32% higher.
- Japan’s Nikkei 225 rose 0.8% at the outset, while the Topix advanced 0.66%.
- South Korea’s Kospi gained 0.2%, and the Kosdaq index jumped 0.62%.
- Hong Kong’s Hang Seng index futures indicated a weaker opening.
**U.S. Market Recovery**
U.S. stocks snapped their six-day decline on Tuesday, with the S&P 500 gaining 0.87%, the Nasdaq Composite rising 1.11%, and the Dow Jones Industrial Average climbing 0.67%.
**Tech Stock Rebound**
Chipmaker Nvidia led the rebound, surging 4.4% after a sharp sell-off last week. Arm Holdings also rebounded by nearly 7%.
**Oil Prices Subside**
U.S. crude prices retreated slightly after Iran announced it would not escalate its conflict with Israel, easing concerns among investors about the impact of rising oil prices on inflation and interest rates.
**Eyes on PMI Data**
The release of PMI data from Japan and India will provide key insights into the health of their respective economies and potential impact on market trends. Investors will also monitor global geopolitical developments and their influence on risk sentiment.
Data sourced from: cnbc.com
