Asian Stocks Rally for Fourth Day on US Rate Cut Optimism, Tech Sector Soars
Asian Stocks Rally for Fourth Day on US Rate Cut Optimism, Tech Sector Soars
Asian stock markets experienced a significant surge for the fourth consecutive day on Tuesday, driven by growing optimism surrounding potential interest-rate cuts in the United States. This positive sentiment has sparked a robust buying spree, particularly within the technology sector across the region.
The MSCI Asia-Pacific equities index has now climbed to its highest point since February 2021, reflecting widespread market confidence. Key technology giants, including Taiwan Semiconductor Manufacturing Co. and Alibaba Group Holding Ltd., were major contributors to these impressive gains. While markets in South Korea, Taiwan, and Hong Kong saw strong upward movements, Indonesia’s shares faced a downturn following the recent removal of its long-serving finance minister.
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