Asia-Pacific markets experienced an upward trend on Friday, as numerous exchanges in the region remained closed in observance of the Boxing Day holiday, while precious metals sustained their year-long rally. Spot gold increased by as much as 1%, reaching a record high of $4,530 per ounce on Friday, and was last trading at $4,508 per ounce as of 3:45 p.m. Singapore time. Silver prices maintained their upward trajectory after Wednesday’s record, increasing by over 3% on Friday to achieve an unprecedented level of $75.1 per ounce. Gold has experienced a remarkable increase of over 71% this year, whereas silver has surged by 158% during the same timeframe, driven by unstable investor sentiment toward riskier assets, concerns over a potential AI bubble, and uncertainty surrounding U.S. Federal Reserve rate cuts.

Japan’s benchmark Nikkei 225 index increased by 0.68%, closing at 50,750.39, primarily driven by gains in technology stocks, while the Topix rose 0.15% to 3,423.06. SoftBank advanced 1.8%, snapping a three-session decline, while semiconductor-related stocks also strengthened, with Advantest gaining 2.27% and Lasertec rising 2.18%. In December, core consumer prices in Tokyo rose 2.3% year on year, according to government data released Friday. Although the figure exceeded the Bank of Japan’s 2% target, it fell short of economists’ expectations and the prior month’s reading, reinforcing the view that Tokyo inflation serves as a leading indicator for nationwide trends.

South Korea’s Kospi climbed 0.51% to close at 4,129.68, while the Kosdaq advanced 0.49% to 919.67, helped by a more than 5% jump in Samsung Electronics that offset earlier losses. China’s CSI 300 added 0.32% to finish at 4,657.24. In contrast, India’s Nifty 50 declined 0.41%, and the BSE Sensex slipped 0.45%. Markets in Australia and Hong Kong remained closed for the holiday.

U.S. equity futures edged higher toward the end of Asian trading hours after US Market recorded fresh milestones. The S&P 500 posted its second consecutive record close on Wednesday, rising 0.32% to 6,932.05. The Dow Jones Industrial Average climbed 288.75 points, or 0.60%, to a record 48,731.16, while the Nasdaq Composite gained 0.22% to close at 23,613.31.