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 participants also reacted to PBOC rates holding despite the Fed Cut,

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.

The S&P 500 is hovering just below record territory, driven by a revived rally as bets have grown that the Federal Reserve will cut interest rates by half a percentage point.