Asia-Pacific markets set to open higher after S&P and Dow set fresh records

Asia-Pacific markets were set to open higher on Friday, after the S&P 500 and the Dow Jones Industrial Average hit new all-time highs overnight following the Federal Reserve’s outsized rate cut.

Japan’s Nikkei 225 futures pointed to a stronger open for the market, with the Chicago contract at 37,735 and its counterpart in Osaka at 37,590 compared to the index’s previous close of 37,155.33.

Japan’s core consumer prices index climbed 2.8% year on year, in line with market expectations, according to analysts polled by Reuters, versus 2.7% in the previous month.

The reading will be the last gauge of the economy before the BOJ concludes its two-day monetary policy meeting.

The Japanese yen weakened slightly to 142.84.

China’s PBOC is also scheduled to announce its decision on benchmark lending rates at a monthly fixing.

Futures for Australia’s S&P/ASX 200 stood at 8,281 higher than its last close of 8,191.9.

Japan’s Nikkei 225 futures pointed to a stronger open for the market, with the futures contract in Chicago at 37,720 and its counterpart in Osaka at 37,500 compared to the previous close of 37,155.33.

Hong Kong’s Hang Seng index futures were at 18,177, higher than HSI’s last close of 18,013.

Overnight in the U.S., all three major indexes ended higher with the Dow Jones Industrial Average rising 1.26% to close at 42,025.19, crossing the 42,000 threshold for the first time.

The S&P 500 added 1.7% to end at 5,713.64, topping 5,700 for the first time.

The Nasdaq Composite surged 2.51% to finish at 18,013.98.

—CNBC’s Lisa Kailai Han and Hakyung Kim contributed to this report.