Traders in Asia also look toward August consumer prices index from Japan and Hong Kong, and central bank decisions from Bank of Japan and People's Bank of China.

Asian markets rose Friday to build on the latest global rally after a jumbo US interest rate cut this week, while the yen reversed earlier gains after the Bank of Japan decided against another hike.

Wall Street's gains followed rallies for markets across Europe and Asia after the Federal Reserve delivered the first cut to interest rates in more than four years late on Wednesday.

Traders in Asia are watching August trade data from China and India. China’s exports and imports are expected to grow by 6.5% year-on-year and 2%, respectively.

Wall Street is holding near its records after the Federal Reserve kicked off its efforts to prevent a recession with a bigger-than-usual cut to interest rates

Asia-Pacific markets on Friday were mostly higher, with Japan's Nikkei 225 leading the gains after Wall Street soared overnight following the Federal Reserve’s outsized rate cut. Market

Asian stocks have surged, with Japan’s Nikkei 225 index leading gains after Wall Street romped to records following the Federal Reserve’s big cut to interest rates

By Stella Qiu SYDNEY (Reuters) -Asian shares extended their rally on Friday, bathing in the afterglow of an outsized interest U.S. rate cut, while the yen edged higher as the Bank of Japan held rates steady and stayed upbeat on the economy.

U.S. stocks are drifting in early trading after leaping to records the day before as part of a worldwide rally.