Asian shares made gains on Friday, buoyed by the record rise of U.S. stocks and the recent decision by the Bank of Japan to raise its key lending rate. The positive sentiment in the markets was somewhat offset by lower U.S. futures and a drop in oil prices, following comments from U.S. President Donald Trump urging oil-producing nations to lower crude prices to alleviate inflation concerns.

Markets appeared largely unfazed by Trump's latest remarks regarding the potential for imposing higher tariffs on imports from China and other countries. In Tokyo, the Nikkei 225 index rose by 0.3%, closing at 40,074.87 after the Bank of Japan increased its benchmark interest rate to approximately 0.5% from 0.25%, marking the highest point since 2008. This shift reflects the central bank's departure from an extended period of ultra-low interest rates aimed at stimulating borrowing and consumer spending.

Statistics released just before the central bank's decision indicated that Japan's core inflation rate surged to 3% year-on-year in December, the highest level in 16 months, exceeding the Bank of Japan's target of 2%. This inflationary pressure contributed to the central bank's decision to adjust the interest rate.

The U.S. dollar saw a decline against the Japanese yen, trading at 155.24 yen compared to 156.06 yen. Meanwhile, the Hang Seng index in Hong Kong climbed 1.8% to 20,057.46, and the Shanghai Composite index increased by 0.7% to 3,253.79. South Korea's Kospi index rose 0.6%, closing at 2,530.56, while Australia's S&P/ASX 200 advanced by 0.4% to 8,408.30.

On Thursday, the S&P 500 gained 0.5%, reaching a new record of 6,118.71, surpassing its previous high set early last month. This was the seventh increase in eight trading days for the index, which is regarded as a key indicator of health for the U.S. stock market. The Dow Jones Industrial Average increased by 0.9% to 44,565.07, while the Nasdaq composite added 0.2%, closing at 20,053.68.

The market's positive momentum came amidst relatively stable movements in U.S. Treasury yields. In recent months, significant fluctuations in the bond market have introduced volatility in stock prices, particularly due to rising concerns regarding inflation and the heavy debt burden faced by the U.S. government, which have influenced Treasury yields. Yields briefly increased after Trump discussed tariffs in a video speech at the World Economic Forum, but they later retracted when specific details were not provided.

The yield on the 10-year Treasury rose to 4.64% from 4.61%, although it remains below its earlier monthly high. Conversely, the yield on the two-year Treasury fell slightly to 4.29% from 4.30%. Earlier reports indicated a higher than expected number of U.S. workers applying for unemployment benefits, although analysts noted that the figures remained within a modest range established in recent months. Chris Larkin, managing director at E-Trade from Morgan Stanley, characterized the employment situation as indicative of U.S. economic outperformance.

Market participants do not anticipate the unemployment report will prompt the Federal Reserve to lower its main interest rate at its upcoming meeting, according to analysis from the CME Group. This potential decision is notable as it would mark the first Federal Reserve meeting since September without a rate cut aimed at easing economic pressures. Although lower interest rates can stimulate investment prices, they may also contribute to higher inflation rates.

In the cryptocurrency market, there was a notable decline in Bitcoin prices, which fell to below $103,000 after recently reaching a record high above $109,000 earlier in the week. This decline occurred amid ongoing optimism that the Trump administration may adopt a more favorable stance towards the cryptocurrency sector.

In the commodities market, U.S. benchmark crude oil prices decreased by 13 cents to $74.49 per barrel, while Brent crude, the international standard, also fell by 13 cents to $78.16 per barrel. The euro experienced a slight increase against the dollar, rising to $1.0449 from $1.0416.