Asian stock markets rise

Markets in Asia-Pacific were higher on Friday as technology stocks continued to gain traction on Wall Street amid concerns about a new banking crisis. Markets in Asia-Pacific were higher on Friday as technology stocks continued to gain traction on Wall Street amid concerns about a new banking crisis. Investors were also eyeing the U.S. personal consumption expenditures price index, the Federal Reserve’s preferred measure of inflation, due later in the day. Hong Kong’s Hang Seng index rose 1.5 percent to lead gains in the region, while the Hang Seng Tech index rose 2 percent. In mainland China, the Shenzhen Component Index rose 0.2 percent and the Shanghai Composite Index rose 0.14 percent. In Japan, the Nikkei 22 rose 0.97 percent and the Topix rose 1 percent as Tokyo’s inflation pressure continued to pull back from its recent peak of 4.3 percent in December. Australia's S&P/ASX 200 rose 0.7 percent. South Korea's Kospi also rose 1.01 percent, while the Kosdaq was marginally lower. Hang Seng futures pointed to a higher opening at 20,563, compared with the index's last close of 20,309.13. Overnight in the U.S., weekly jobless claims rose 7,000 to 198,000, raising hopes the Fed could slow its tightening campaign amid a cooling labor market. The S&P 500 rose 0.57 percent, reaching its highest level since mid-session on March 7. The Nasdaq Composite also rose, adding more than 4 percent for the month, and the Dow Jones Industrial Average added 0.43 percent.