Asian shares track US futures higher, bonds hold gains

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Asian shares tracked Wall Street futures higher on Friday as Amazon provided some welcome earnings relief, while bonds were able to sustain a rally amid signs U.S. inflation was easing.

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27 Oct 2023

All eyes were on U.S. data later in the session that may show core inflation growing 0.3% in September on a monthly basis, pushing the annual rate lower to 3.7% from 3.9% a month ago.

Overnight, the European Central Bank left interest rates unchanged as expected, sending the euro briefly to a two-week low. The dollar is is trading above the critical 150 yen level, with traders on guard for any signs of intervention ahead of the Bank of Japan policy meeting on Tuesday.

S&P 500 futures rose 0.4% while Nasdaq futures rallied 0.7%, driven by a 5% jump in Amazon shares in after-hours trading. In a statement after the U.S. close, the tech giant predicted higher holiday season sales and a stabilisation in its cloud business.

MSCI's broadest index of Asia-Pacific shares outside Japan bounced 0.6% on Friday after hitting a fresh 11-month low a day ago. It is, however, on