TOKYO (AP) — Asian shares mostly rose in early Friday trading, getting a lift from a rally on Wall Street as well as declining oil prices.
Japan's benchmark Nikkei 225 gained 0.8% in early trading to 64,662.11, as the Bank of Japan ends a two-day monetary policy meeting to decide on interest rates.
South Korea's Kospi jumped 2.1% to 6,856.35. Australia’s S&P/ASX 200 rose nearly 0.1% to 8,738.50. Hong Kong's Hang Seng edged up 0.8% to 24,766.66, while the Shanghai Composite added nearly 0.8% to 3,905.34.
Falling oil prices and easing pressure from the bond market helped Wall Street reverse many of its losses from the prior day.
The S&P 500 jumped 1.1% for just its second rise in the last nine days. The Dow Jones Industrial Average added 316 points, or 0.6%, and the Nasdaq composite climbed 1.7%.
Wall Street stocks got a boost after the price for a barrel of Brent crude oil slid from the nearly $110 it reached earlier in the week on worries that the war with Iran will keep oil bottled up in the Middle East instead of going to customers worldwide.
In Asian trading, Brent, the international standard, lost 0.68% to $104.11 a barrel. Benchmark U.S. crude slid 0.54% to $101.36 a barrel.
Brent is still more expensive than the $72 per barrel that it cost earlier this summer, but the recent drop helped pull yields lower in the bond market and removed some pressure on stocks. The yield on the 10-year Treasury fell to 4.93% from 5.01% late Wednesday.
The Federal Reserve on Wednesday raised the short-term interest rate that it controls, the federal funds rate, by a quarter of a percentage point for its first hike in more than three years. Officials also signaled they may raise the federal funds rate one more time this year as they try to get high inflation in the U.S. under control.
The signals sent Wall Street on a roller coaster. Stocks initially remained higher for the day after the Fed made its announcement Wednesday. They then slid sharply before recovering a chunk of the losses before trading ended.
On the upside for markets, the shift to higher interest rates built confidence that the Fed is committed to getting inflation back to its target of 2%. On the downside for markets, higher rates undercut prices for stocks and other investments.
All told, the S&P 500 rose 85.95 points to 7,637.76. The Dow Jones Industrial Average gained 316.14 to 51,778.04, and the Nasdaq composite rallied 439.87 to 26,418.30.
In currency trading, the U.S. dollar rose to 156.15 Japanese yen from 155.95 yen. The euro was unchanged at $1.1480.
AP Business Writer Stan Choe contributed to this report.
Traders work on the floor at the New York Stock Exchange in New York, Wednesday, Sept. 16, 2026. (AP Photo/Seth Wenig)
HOUSTON (AP) — Yordan Alvarez hit his 40th home run, one of five Houston long balls, and the Astros beat the Kansas City Royals 6-2 on Thursday night to move back over .500 and open a one-game lead over Texas in AL West.
Jeremy Peña hit a first-inning homer for Houston, and Daulton Varsho, Lamonte Wade Jr. and Taylor Trammell also had solo home runs as the Astros hit a season-high five.
Houston (77-76) moved back into sole possession of the lead when Texas (76-77) wasted a eighth-inning lead in a 4-3 loss to Boston. The Astros hold the tiebreaker.
Peña reached 20 homers for the first time since his rookie season in 2022, connecting on the first pitch from Seth Lugo for his sixth leadoff home run this season. Peña added an RBI single in the sixth.
Varsho homered in the second, and Wade and Alvarez in a three-pitch span in the fifth. Alvarez is one home run behind Tampa Bay's Junior Caminero, the AL leader.
Bryan King (3-5) retired four straight batters. Ethan Pecko entered to start the third and allowed one run and three hits over 5 2/3 innings, retiring 15 of his first 16 batters.
Josh Hader pitched a 1-2-3 ninth, finishing a three-hitter and lowering his ERA to 0.83.
Maikel Garcia hit a first-inning, run-scoring double play grounder for the Royals following a pair of walks and a hit batter.
Lugo (7-9) tied his career high by allowing four homers, all solo shots.
Royals: RHP Randy Dobnak (3-4, 2.73 ERA) pitches Friday at Pittsburgh. The Pirates start RHP Paul Skenes (10-11, 3.78), who is 1-3 in his last nine starts,
Astros: RHP Peter Lambert (8-9, 3.71 ERA) seeks his first win since July 11 when he starts Friday against visiting Atlanta and RHP Tyler Mahle (6-10, 3.91).
See AP’s full MLB coverage here
Houston Astros' Jeremy Peña (3) and Nick Allen (20) celebrate after a baseball game against the Kansas City Royals Thursday, Sept. 17, 2026, in Houston. (AP Photo/David J. Phillip)
Philadelphia Phillies' Trea Turner, left, slides home past New York Mets catcher Francisco Alvarez on a sac fly hit by Luis Arraez during the seventh inning of a baseball game, Thursday, Sept. 17, 2026, in New York. (AP Photo/Seth Wenig)
Houston Astros' Yordan Alvarez (44) celebrates after hitting a home run against the Kansas City Royals during the fifth inning of a baseball game Thursday, Sept. 17, 2026, in Houston. (AP Photo/David J. Phillip)
Houston Astros' Yordan Alvarez (44) celebrates after hitting a home run against the Kansas City Royals during the fifth inning of a baseball game Thursday, Sept. 17, 2026, in Houston. (AP Photo/David J. Phillip)
Houston Astros' Yordan Alvarez watches his home run against the Kansas City Royals during the fifth inning of a baseball game Thursday, Sept. 17, 2026, in Houston. (AP Photo/David J. Phillip)
