Asian Shares Surge Amid Global Monetary Shifts

Asian stocks continued their rally on Friday following a significant rate cut in the U.S. The yen rose as Japan's central bank maintained its rates and positive economic stance. Meanwhile, Chinese shares declined slightly. U.S. markets saw record highs, and commodities held their gains.

Asian shares soared on Friday, capitalizing on the recent substantial interest rate cuts in the United States. The yen recorded gains as the Bank of Japan maintained its rates and demonstrated optimism about the country's economy. However, Chinese stocks dipped, with blue chips down 0.3% despite the central bank's move to keep lending rates on hold.

MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.7%, reaching a two-month high and setting up for a weekly gain of 2.5%. The Nikkei surged 2.1%, bolstered by a weaker yen, with the index increasing 3.5% for the week. Futures for the Nikkei remained stable following the BOJ's decision.

In the United States, Wall Street ended Thursday with record highs, driven by tech stocks, and data indicating a robust labor market. U.S. stock futures were slightly down on Friday, while the dollar stayed near one-year lows. Commodities retained their weekly gains, with gold near a record high and oil prices set to rise for the second week in a row.

(With inputs from agencies.)