Traders in Asia also look toward August consumer prices index from Japan and Hong Kong, and central bank decisions from Bank of Japan and People's Bank of China.

Wall Street's gains followed rallies for markets across Europe and Asia after the Federal Reserve delivered the first cut to interest rates in more than four years late on Wednesday.

Asia-Pacific markets are set to open lower on Wednesday, despite gains on Wall Street ahead of the U.S. August consumer inflation report due Wednesday.

Oracle jumped 11.4% to an all-time high and helped lead the market after delivering better profit and revenue for the latest quarter than analysts expected. Gains for several influential Big Tech stocks also helped drive indexes, including rises of 2.1% for Microsoft and 2.4% for Amazon.

The major benchmarks rebounded from intraday lows after a volatile trading session, as investors parsed through the higher-than-expected consumer prices report.

Asia-Pacific markets on Friday were mostly higher, with Japan's Nikkei 225 leading the gains after Wall Street soared overnight following the Federal Reserve’s outsized rate cut. Market participants also reacted to PBOC rates holding despite the Fed Cut,

Shares are mostly higher in Europe and Asia as world markets await an expected interest rate cut by the Federal Reserve