Stock market today: Asian stocks rise as Nikkei jumps after BOJ rate hike, oil retreat lifts sentiment

Asian markets rose on Friday after the Bank of Japan lifted its policy rate by 25 basis points to 1.25% in a 7-2 vote, with two dissenting policymakers. The yen weakened about 0.7% to 157.1 per dollar, while Japan’s Nikkei 225 gained 1.52% and TOPIX added 0.20%. The MSCI Asia Pacific index excluding Japan climbed 0.84%. Traders also drew support from a strong Wall Street session led by technology and semiconductors, with Nasdaq up 1.7%, the S&P 500 rising 1.1% and the Dow up 0.6%, alongside a 3.1% jump in the Philadelphia Semiconductor Index. Falling energy prices and a drop in the U.S. 10-year Treasury yield to 4.93% helped ease inflation concerns. Oil eased further, with Brent down 1.2% to $103.56, as traders weighed signs of possible U.S.-Iran diplomatic progress and efforts by Saudi Arabia to restore part of its East-West pipeline after drone strikes.