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Asia Rallies After U.S. Techs Recover

Asia-Pacific markets are mixed after Wall Street saw a tech rally led by Nvidia, and U.S. negotiators moved closer to a debt ceiling deal with just a week to go before the government faces a potential default.

In Japan, the Nikkei 225 gained 115.18 points, or 0.4%, to end the week at 30,916.31.

Tokyo’s core-core inflation, which excludes fresh food and fuel costs, rose by 3.9%, its fastest pace since 1982. The consumer price index for Japan’s capital, which is seen as a gauge for the nationwide reading, rose at a slower pace of 3.2% in May from April’s figure of 3.5%.

Korean markets made headway, reversing losses from Thursday.

Australian markets were positive, after reversing earlier losses and snapping a four-day losing streak.

Markets in Hong Kong were shuttered for holiday.

In other markets

In China, the CSI 300 index inched up 0.45 points to 3,850.95.

In Singapore, the Straits Times index handed back 0.33 points to 3,207.39.

In Korea, the Kospi climbed 4.12 points, or 0.2%, to 2,558.81.

In Taiwan, the Taiex index popped 213.05 points, or 1.3%, to 16,505.05.

In New Zealand, the NZX 50 stumbled 129.82 points, or 1.1%, to 11,830.03.

In Australia, the ASX 200 picked up 16.6 points, or 0.2%, to 7,154.76.