Markets in the Asia-Pacific region are expected to open with gains following the S&P and Dow's achievement of new records.

• Asian traders will focus on the August consumer prices index from Japan and Hong Kong, as well as central bank decisions from the Bank of Japan and the People's Bank of China.
• The core consumer prices index in Japan increased by 2.8% year-on-year, in line with market expectations, as per analysts surveyed by Reuters, compared to 2.7% in the previous month.

The Asia-Pacific markets were poised to open higher on Friday, following the S&P 500 and the Dow Jones Industrial Average reaching new all-time highs overnight after the Federal Reserve announced an outsized rate cut.

The Chicago contract and its counterpart in Osaka both signaled a stronger future for Japan's market, with the Chicago contract at 37,735 and the Osaka contract at 37,590, compared to the index's previous close of 37,155.33.

In line with market expectations, Japan's core consumer prices index increased by 2.8% year on year, compared to the previous month's increase of 2.7%, according to analysts surveyed by Reuters.

Before the BOJ concludes its two-day monetary policy meeting, the reading of the economy will be the final gauge.

The Japanese yen weakened slightly to 142.84.

The PBOC of China will reveal its decision on benchmark lending rates at a monthly fixing.

The S&P/ASX 200 for Australia was 8,281 points higher than its previous closing value of 8,191.9.

The futures market in Japan is expected to have a stronger opening, with the Chicago contract at 37,720 and the Osaka contract at 37,500, compared to the previous close of 37,155.33.

HSI's last close of 18,013 was lower than Hong Kong's futures at 18,177.

In the U.S., the Dow Jones Industrial Average rose 1.26% overnight, reaching a new high of 42,025.19 and surpassing the 42,000 mark for the first time.

The S&P 500 gained 1.7% to finish at 5,713.64, surpassing 5,700 for the first time.

The Nasdaq Composite surged 2.51% to finish at 18,013.98.

—CNBC's Lisa Kailai Han and Hakyung Kim contributed to this report.