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Asia-Pacific markets set to climb, with Australia poised to breach all-time closing high – CNBC

The sails of the Opera House are illuminated with projected images during the opening night of Vivid Sydney 2023, Friday, May 26, 2023, in Sydney, Australia.

Anadolu Agency | Anadolu Agency | Getty Images

Asia-Pacific markets were mostly lower on Friday, paring gains from Thursday despite continued gains in Wall Street tech stocks.

In Asia, investors India releases August inflation figures The consumer price index released late on Thursday rose 3.65 percent from a year earlier, up from a five-year low, above a revised 3.6 percent in July and above the 3.5 percent forecast by economists polled by Reuters.

Korean Cospi was flat, while the small-cap Kosdaq fell slightly.

Japanese Nikkei Stock Average The stock price index fell 0.43%, while the Tokyo Stock Exchange index also fell 0.58%.

Australia's S&P/ASX 200 was the exception, rising 0.75% to approach a record high of 8,148.7.

Hong Kong Hang Seng Index Futures were at 17,294, above the HSI's last close of 17,240.

Mainland China's CSI 300 futures were at 3,176, just above the index's closing six-year low of 3,172.47 on Thursday.

Overnight in the US, the S&P 500 rose 0.75%, its fourth consecutive day of gains, while the Dow Jones Industrial Average rose 0.58% and the Nasdaq Composite Index added 1%, the biggest percentage gains.

On Thursday, the last major data on the U.S. economy was released ahead of next week's Federal Reserve meeting. The U.S. Producer Price Index rose 0.2% month-on-month, in line with Dow Jones expectations. On a year-on-year basis, the composite producer price index rose 1.7%.

—CNBC's Pia Singh, Jeff Cox and Sarah Min contributed to this report.

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