Wall Street Soars Amid Tech Stock Surge; Asian Markets Decline

Asian shares mostly retreated Friday following a surge in technology stocks led by Nvidia and Intel, pushing Wall Street to new record highs. Japan's Nikkei 225 experienced gains that shifted to losses, dipping nearly 1.4% to 44,667.88, after the Bank of Japan maintained its benchmark short-term interest rate at 0.5%. August inflation data revealed a decrease to a 10-month low of 2.7%, down from 3.1% the previous month.

In contrast, Chinese markets showed a mixed performance, with Hong Kong's Hang Seng index rising 0.1% to 26,576.59, whereas the Shanghai Composite index slipped slightly by less than 0.1% to 3,830.65. Investors are awaiting discussions between President Donald Trump and China's President Xi Jinping on tariffs and a deal allowing TikTok's continued operation in the United States.

Wall Street saw technology stocks drive major indices to unprecedented levels. Nvidia and Intel, in particular, lifted the S&P 500 to a 0.5% rise, contributing to its third straight winning week. Meanwhile, the Dow Jones Industrial Average increased by 124 points, or 0.3%, and the Nasdaq composite climbed 0.9%, propelled by positive economic reports and expectations of further Federal Reserve interest rate cuts.

(With inputs from agencies.)