US stocks closed higher on Friday, buoyed by a rally in megacap growth stocks following robust quarterly results from technology heavyweights Alphabet and Microsoft in addition to moderate inflation data.

Asian markets traded higher on Monday ahead of the key economic data from the region and the US Federal Reserve’s meeting this week.

South Korea’s Kospi gained 0.63%, and the Kosdaq surged 0.94%. Japan’s markets are shut for a public holiday. Hong Kong’s Hang Seng index futures indicated a weak opening.

Gift Nifty was trading around the 22,650 level, a premium of nearly 95 points from the Nifty futures’ previous close, indicating a gap-up start for the Indian stock market indices.

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