Asian equity benchmarks are trading up in the early deals on Friday following the positive lead overnight from Wall Street and a rebound in the price of crude oil. Disappointing US economic data released overnight eased worries about an interest rate hike by the Federal Reserve at its meeting next week. Data showed that US retail sales declined 0.3 percent in August from the previous month and industrial output dropped 0.4 percent. Both the Federal Reserve and the Bank of Japan will hold their monetary policy meetings next week. Meanwhile, Japanese stocks edged up after US shares rose, while Apple-related stocks outperformed after the iPhone maker said initial quantities of the iPhone 7 Plus have sold out globally. Among the other Asian markets, Singapore and Indonesia are also in positive territory. The markets in Taiwan, China, South Korea, Hong Kong and Malaysia are closed for public holidays.
Nikkei 225 added 72.26 points or 0.44% to 16,477.27, Straits Times gained 23.44 points or 0.84% to 2,828.96, and Jakarta Composite was up by 29.86 points or 0.57% to 5,295.68.