Asian Markets Surge on US Rate Cut Hopes

Asian stock markets kicked off the week on a high note, with shares surging across the region on Tuesday. This bullish trend was primarily fueled by a robust showing from tech companies and growing investor optimism over a potential US Federal Reserve interest rate cut later this year. MSCIs index of Asia-Pacific shares, excluding Japan, climbed by 0.4%, while Japans Nikkei index and Australian shares also saw gains. These regional advances followed a strong performance in US markets, where the tech sector led the way. The Nasdaq Composite and S&P 500 both rose, with the Nasdaq adding 1.0% and the S&P 500 gaining 0.8%. The US dollar traded slightly lower against major currencies, with the euro and Japanese yen strengthening. Oil prices also rose, with Brent crude increasing by 0.3% to $82.90 a barrel. These market movements reflect investor expectations of future economic adjustments.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.