Asian Markets Rally on Fed Rate Cut Hopes, China Tensions Persist

Asian stock markets kicked off the week on a high note, buoyed by a robust Wall Street rally, as investors speculated about potential interest rate cuts by the Federal Reserve. MSCIs Asia-Pacific index, excluding Japan, edged up by 0.5%, while Australias ASX two hundred and New Zealands benchmark index also gained. However, Chinese markets faced headwinds, with the CSI three hundred index dipping and the Hang Seng index barely managing a gain. The weaker U.S. jobs report and planned Biden-Xi meeting bolstered sentiment, but U.S. export restrictions on Chinese chipmakers dampened spirits in the sector.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.