The Nikkei in Japan leads gains in the Asia Pacific region following a surge in Wall Street after the Federal Reserve announces a large rate cut.

• In contrast to the previous month's 2.7% increase, Japan's core consumer prices index rose by 2.8% year on year, in accordance with Reuters predictions.
• Before the BOJ concludes its two-day monetary policy meeting, the reading of the economy will be the last gauge. It is predicted that the interest rates will remain unchanged at 0.25%.

On Friday, Asia-Pacific markets rose, with Japan's Nikkei 225 leading the way, after Wall Street experienced a surge following the Federal Reserve's significant rate reduction.

Japan's core consumer prices index increased by 2.8% year over year, in accordance with Reuters predictions, compared to a 2.7% increase in the previous month. The inflation rate, excluding fresh food and energy, was 2%, compared to 1.9% in the previous month.

Before the BOJ concludes its two-day monetary policy meeting, the reading of the economy will be the last gauge. It is predicted that the interest rates will remain unchanged at 0.25%.

The Japanese yen was nearly flat at 142.67.

The PBOC of China will also reveal its choice on benchmark lending rates during a monthly fixing.

Australia's S&P/ASX 200 edged up 0.2%.

The broad-cased Topix added 1.63%, while Japan's stock market jumped as much as 1.9%.

The small-cap Kosdaq rose by 1.51%, while South Korea's blue chip Kospi increased by 1.45%.

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

The blue chip CSI 300 index in mainland China stood at 3,198.8, higher than its last close of 3,196.

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.

The S&P 500, Dow, and Nasdaq are all experiencing weekly gains, with the S&P 500 up 1.6%, the Dow up 1.5%, and the Nasdaq leading the way with a 1.9% increase.

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