Asian shares rise, US futures flat after modest Wall Street moves

Hong Kong, Jan 9 (AP) Asian shares were mostly higher on Friday following mixed moves on Wall Street, where President Donald Trump’s talk of raising defence spending spurred a rally in military-related

shares.

Tokyo’s Nikkei 225 gained 1.1 per cent to 51,692,70. Shares of Fast Retailing, the fashion company behind Uniqlo, jumped more than 7 per cent after its quarterly operating profit surged about 34 per cent year-on-year. It revised its full-year forecasts upward.

Hong Kong’s Hang Seng gained less than 0.1 per cent to 26,158.21, and the Shanghai Composite index rose 0.3 per cent to 4,095.33, after official data showed China’s inflation rate picked up in December, rising by its fastest pace in almost three years. That suggests an improvement in demand, which tends to push prices higher.

The Chinese artificial intelligence startup MiniMax, whose shares debuted on the Hong Kong Stock Exchange on Friday, surged more than 50 per cent in early trading.

In Australia, the S&P/ASX 200 fell less than 0.1 per cent to 8,715.60. Shares of Rio Tinto fell 6 per cent, after the mining group confirmed that it is in preliminary merger talks with Glencore in a deal that could create the biggest mining company in the world.

South Korea’s Kospi added 0.7 per cent to 4,582.95, and Taiwan’s Taiex picked up 0.3 per cent.

Investors are watching for the Labour Department’s Friday release of its monthly job report for December, which could give a more comprehensive look at the US job market. The Supreme Court is also expected to issue a possible ruling on Trump’s far-reaching “Liberation Day” tariffs on Friday, which could lift market sentiment.

On Thursday, defence-industry companies advanced on Wall Street, after President Donald Trump said he wants to hike US military spending to USD 1.5 trillion in 2027. L3Harris Technologies climbed 5.2 per cent, Lockheed Martin rose 4.3 per cent and Northrop Grumman edged up 2.4 per cent.

Other moves for Wall Street were more modest, after optimism for the start of the year faded slightly on Wednesday. The S&P 500 added less than 0.1 per cent to 6,921.46. The Dow Jones Industrial Average climbed nearly 0.6 per cent to 49,266.11, and the Nasdaq composite fell 0.4 per cent to 23,480.02.

US data released Thursday showed that filings for unemployment benefits rose slightly in the last week of 2025, and had remained historically low and in line with economists’ expectations. But workers productivity picked up in the July-September quarter.

In other dealings early Friday, oil prices gained after a volatile week following Trump’s ouster of the leader of Venezuela. Benchmark US crude rose 35 cents to USD 58.11 per barrel. Brent crude, the international standard, gained 38 cents to USD 62.37.

Supply worries persist. Venezuela has some of the largest oil reserves in the world and the US has sought to assert control over its oil resources. It seized two more oil tankers this week, including one that sailed under a Russia flag that the US said had evaded a blockade on sanctioned oil vessels around Venezuela.

The US dollar rose to 157.27 Japanese yen, up from 156.80 yen.

The euro slipped to USD 1.1656 from USD 1.1661. (AP) GRS GRS