Asian markets mostly rose on Friday morning following another record close on Wall Street as the likelihood of a US interest rate hike in the near term dwindled.Chinese shares were again the stand-out the performers on hopes that Beijing will announce fresh monetary easing measures after more disappointing economic indicators.
Shanghai surged 1.23 per cent, Hong Kong gained 1.19 per cent, Sydney added 0.19 per cent and Seoul gained 0.27 per cent. But Tokyo was 0.12 per cent lower having rallied for five sessions to 15-year highs.
On Wall Street the S&P 500 closed at another all-time high thanks to strong earnings results and a multi-billion-dollar pharma merger.
A worse-than-expected reading on US new home sales indicated the economy was still not firing on all cylinders, which suggests it is not yet ready to absorb a Federal Reserve rate rise from record lows. On Wednesday, minutes from the Fed's April policy meeting showed board members had similar concerns.
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