Stock Market LIVE: Asia stocks follow Wall Street higher

SGX Nifty indicates positive open for Indian indices 

Nifty futures on the Singapore Exchange traded 71.50 points higher at 18,025.00, indicating a positive start for Indian indices.

On Wednesday, the Sensex tanked 774 points to 60,205, while the broader Nifty fell 226 points to 17,892.

Asian markets upbeat, tick higher following US tech rally 

Stocks in Asia are set to follow US equities higher Friday after a rally in tech shares helped investors shake off mixed economic data that suggested a path to a soft landing, but the risk of recession persists.

Equities rose in Japan, South Korea and Australia, where trading resumed after Thursday’s holiday. Futures for Hong Kong also gained. India’s equity market also reopens after a holiday break, while mainland China remains closed for the Lunar New Year holiday.

Nikkei 225 rose 0.11% in its first hour of trade and the Topix gained 0.18%. In Australia, the S&P/ASX 200 traded 0.23% higher. In South Korea, the Kospi was flat.

Wall Street ended a choppy session higher on Thursday as investors grappled with an onslaught of economic data and a string of mixed corporate earnings, all while eyeing the clock as it ticks down toward next week’s Federal Reserve monetary policy meeting.

The S&P 500 closed at the highest level in more than a month, reflecting a jump in tech stocks. The Nasdaq 100 rose 2% to the highest level since September, led by an 11% gain for Tesla Inc. as Elon Musk teased potential for the carmaker to produce 2 million vehicles this year.

In commodities, oil was set to end the week little changed as concerns of an economic slowdown were tempered by optimism over Chinese demand. Gold was steady.