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South Korea's central bank raised its key interest rate by a quarter-percentage point as expected on Thursday, in a bid to contain inflation and prevent capital outflows as the U.S. Federal Reserve gears up for more hikes.
Jung Yeon-je | Afp | Getty Images
Asia-Pacific markets were set to open higher Thursday, tracking Wall Street gains as strong earnings from Nvidia and Oracle lifted investor sentiment. U.S. equities advanced overnight, with technology stocks leading the rally.
Australia's S&P/ASX 200 rose 0.8% to a record high in early trade.
Japan's Nikkei 225 futures in Osaka pointed to a stronger open for the market, trading at 59,650 compared to the previous close of 58,583.12. Chicago futures, however, were at 59,480.
Hong Kong Hang Seng index futures last traded at 26,947, higher than the HSI's Wednesday close of 26,765.72.
The Bank of Korea is set to release its rate decision later in the day. South Korea's central bank is expected to keep interest rates unchanged, according to economists polled by Reuters.
Overnight in the U.S., equities rose, supported by Nvidia and Oracle, as stocks built on the gains from the prior trading day.
The S&P 500 added 0.81% to close at 6,946.13, and the Nasdaq Composite advanced 1.26% to 23,152.08. The Dow Jones Industrial Average rose 307.65 points, or 0.63%, to settle at 49,482.15.
Nvidia posted fiscal fourth-quarter results that topped Wall Street expectations, fueled by a 75% surge in revenue from its core data center segment. Shares gained as much as 2% in extended trading following the release.
The company reported adjusted earnings per share of $1.62, beating the $1.53 forecast from analysts surveyed by LSEG. Revenue totaled $68.13 billion, above estimates of $66.21 billion.
—CNBC's Sean Conlon and Pia Singh contributed to this report.
