A vegetables stall in the Haizhu area of Guangzhou, China, on Tuesday, May 9, 2023. China's consumer inflation slowed to the weakest pace in two years in April while producer prices fell deeper into deflation, reflecting muted domestic demand and softer commodity costs. Source: Bloomberg
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In Japan, the Nikkei 225 jumped 1.97% after two straight days of losses, leading gains in the region and closing at 32,265. The Topix gained 1.5% to end the day at 2,224.32, also hovering near three decade highs.
South Korea's Kospi rose 1.16% to end at 2,641.16, its highest level since June 2022, and the Kosdaq moved up 0.87% to end at 883.71.
Australia's S&P/ASX 200 rose 0.32% and ended at 7,122.5, snapping a three day losing streak.
Overnight in the U.S., all three major indexes climbed higher, with the Nasdaq Composite leading gains and advancing 1.02%, while the S&P 500 was 0.62% higher and the Dow Jones Industrial Average added 0.5%.
A key focus for next week would be the U.S. Federal Reserve's policy meeting on June 13 and 14, especially after jobless claims increased more than expected to their highest since October 2021, a potential sign that the labor market is softening up after more than a year of interest rate hikes.
— CNBC's Hakyung Kim and Darla Mercado contributed to this report
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