Nikkei Futures experienced an uptick on Friday following the announcement that U.S. President Donald Trump had signed an executive order on Thursday, which established a reduction in the Japanese auto import tariff to 15%, a decrease from the previous rate of 27.5%. The order further validated the arrangement for $550 billion in Japanese investments directed towards U.S. projects. Japan’s Nikkei 225 experienced an increase of 1.03%, closing at 43,018.75, while the Topix saw a rise of 0.82%, finishing the trading day at 3,105.31, following a reported 1.4% year-over-year rise in the country’s July household spending.

South Korea’s Kospi experienced a modest increase of 0.13%, concluding the trading session at 3,205.12, whereas the Kosdaq saw a more significant rise of 0.74%, finishing at 811.4. Several Asian chip stocks surged following Trump’s announcement on Thursday that his administration intends to impose tariffs on semiconductor imports from companies that do not relocate production to the United States. The remarks were made prior to Trump’s dinner with leading technology CEOs at the refurbished Rose Garden. Advantest experienced an increase of 2.14%, whereas Lasertec surged by more than 4%. TSMC experienced an increase of 1.72%. Shares of South Korean memory chipmaker SK Hynix experienced an increase of 3.01%.

Australia’s S&P/ASX 200 increased by 0.51%, finishing at 8,871.2. The Hang Seng Index in Hong Kong experienced an increase of 1.41%, whereas the mainland CSI 300 saw a rise exceeding 2%, reaching 4,460.32. In India, the benchmark Nifty 50 and the Sensex index experienced declines of 0.14% and 0.22% respectively, as of 1:39 p.m. local time. The markets in Malaysia and Indonesia were closed in observance of a holiday.

U.S. equity futures during the early hours in Asia exhibited minimal movement as market participants awaited the release of the August jobs report scheduled for Friday in the United States. Overnight in the United States, all three major indices experienced an uptick, driven by optimism surrounding a forthcoming jobs report that could bolster the likelihood of a Federal Reserve rate reduction. The broad market S&P 500 concluded the trading session with an increase of 0.83%, closing at 6,502.08, whereas the Nasdaq Composite ended the day up 0.98%, finishing at 21,707.69. The Dow Jones Industrial Average concluded the trading session with an increase of 350.06 points, representing a rise of 0.77%, closing at 45,621.29. The S&P 500 achieved its 21st record close of the year to date.