Asian Markets Surge on Fed Rate-Cut Hopes, China Eases Property Curbs
Asian Markets Surge on Fed Rate-Cut Hopes, China Eases Property Curbs
Asian stock markets recorded significant gains today, tracking a robust rally on Wall Street, as traders solidified their bets on a Federal Reserve interest rate cut next month. This surge in optimism follows recent dovish comments from Chairman Jerome Powell, signaling a potential easing of monetary policy.
A broad index of Asian equities climbed 1%, with technology stocks in Hong Kong leading the charge, jumping by 2.9%. In mainland China, Shanghai shares advanced 0.8%, nearing their highest level in a decade. Property companies were among the top performers in Shanghai, benefiting from a major Chinese city’s recent decision to ease home buying restrictions, further fueling market activity.
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