In Asian trading, the Nikkei 225 index ended 0.2% higher at 39,523.55, with the dollar standing at 153.28 Japanese yen, nearly matching the 34-year high of 153.32 yen that it hit on Wednesday

European shares opened higher on Friday after most Asian markets pulled back despite a tech-fuelled bounce back on Wall Street the day before.

Oil prices were higher. The future for the S&P 500 slid 0.1% while that for Dow Jones Industrial Average (DJIA) rose 0.1%.

Germany’s DAX gained 1% to 18,141.43, with Friday data showing the country’s inflation rate dropped to 2.3% in March, the lowest level since June 2021.

The CAC 40 in Paris added 1% to 8,105.14. In London, the FTSE 100 jumped 1% to 8,005.91 after the country’s gross domestic product (GDP) rose by 0.1% in February.

In Asian trading, the Nikkei 225 index ended 0.2% higher at 39,523.55, with the dollar standing at 153.28 Japanese yen, nearly matching the 34-year high of 153.32 yen that it hit on Wednesday.

Hong Kong’s Hang Seng index dropped 2.2% to 16,721.69, and the Shanghai Composite index shed 0.5% to 3,019.47.

The resilience of Asian equities is noteworthy, particularly considering the stronger U.S. dollar and China’s ongoing deflationary challenges, Stephen Innes, managing partner at SPI Asset Management, said in a commentary.

South Korea’s Kospi lost 0.9% to 2,681.82 after the Bank of Korea held its benchmark rate unchanged at 3.50%.

Australia’s S&P/ASX 200 dropped 0.3% to 7,788.10.

On Thursday, the S&P 500 gained 0.7% and the Nasdaq composite rose 1.7% to a record 16,442.20. The DJIA, which has less of an emphasis on tech, was the laggard. It slid less than 0.1%.

In the bond market, which has been driving much of Wall Street’s action, Treasury yields held relatively steady after a mixed batch of data on inflation and the U.S. economy.