Asian equities moved higher following gains on Wall Street, despite renewed volatility in the technology sector triggered by another slide in Oracle’s share price.
Markets have had to adjust quickly this week after the Federal Reserve cut interest rates but delivered a less dovish outlook than many investors had anticipated.
In commodities, Shanghai copper futures climbed to a record high and were heading for a third straight weekly advance, supported by pledges from China, the world’s largest consumer, to provide additional fiscal stimulus next year.
MSCI’s broad Asia-Pacific index excluding Japan rose by almost 1%, tracking generally stronger US markets on Thursday.
In Japan, the Topix jumped to a record high and was last up 1.9%, helped by an 8.2% surge in Sumitomo Metal Mining, while the Nikkei 225 gained 1.3%.
US markets finished Thursday’s session mixed. The Dow Jones Industrial Average advanced 1.3% as investors rotated away from technology following Oracle’s sell-off, while the Nasdaq Composite slipped 0.3%. The S&P 500 edged 0.2% higher.
