• Asian benchmarks rose as the S&P 500 Index and Nasdaq 100 Index recorded gains of over 1%.
• The expected decline in US Nonfarm Payrolls prompts the Fed to reconsider March rate cuts.
• ASX 200 and Nikkei 225 rose by 1.40% and 0.60%, respectively, by the press time.
• Apple Inc. reported a continued decline in its performance in China.

Asian benchmarks showed improvement on Friday, driven by the rebound in United States (US) tech equities. The positive momentum followed better-than-expected results from Meta and Amazon. Both the S&P 500 Index and the tech-heavy Nasdaq 100 Index recorded gains of over 1% on Thursday.

Market participants are eagerly awaiting the release of US Nonfarm Payrolls data, hoping to discern any signals from the Federal Reserve (Fed) that might prompt a reconsideration of March interest rate cuts. Federal Reserve Chair Jerome Powell pushed back on market speculation regarding rate cuts in March during a Wednesday statement, leading to a sell-off on Wall Street that continued into Thursday.

As of the latest market updates, Chinese benchmarks showed a mixed show with SSE Composite Index experiencing a 0.72% decline, reaching 2,750. Meanwhile, the Shenzhen Component Index is down by 1.49% at 8,117. However, Hong Kong's Hang Seng is up by 0.58% at 15,657.

Australian and Japanese Index rallied with the S&P/ASX 200 increasing by 1.40% to 7,694. Japan's Nikkei 225 has risen to 36,230, reflecting a 0.60% increase. Furthermore, the Korean KOSPI has advanced to 2,601, showing a 2.31% increase.

A rescue operation is in progress in China's equity markets, marked by significant and atypical inflows into blue-chip funds, indicating a surge led by state-backed investors. Meanwhile, Apple Inc. reported a continued decline in its performance in China during the holiday quarter. Despite stronger-than-expected total iPhone sales and the company's return to revenue growth, challenges persist in the Chinese market for Apple.

US Treasury yields experienced another decline amid concerns regarding regional US banks. These concerns were reignited after New York Community Bancorp reported heightened stress in its commercial real estate portfolio, raising worries about the overall health of regional lenders