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Asian Stocks Rise on Optimism for Fed Rate Cut: Markets Wrap
Asian equities rose, joining a global rally as bets the Federal Reserve will soon start cutting rates fueled a rush into riskier corners of the market. Stocks in Hong Kong gained at the open, as those in mainland China declined. Equity benchmarks in Japan and Australia climbed, while those in South Korea were steady after US shares advanced to fresh highs, pushing global stocks to a new peak. Risk-on appetite has been rising, with optimism that the Fed will cut rates soon, as US retail sales data showed resilience among consumers, fueling hopes for a soft landing. The sentiment drove a rotation into smaller stocks ... (full story)
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- Posted: Jul 17, 2024 12:00am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,125
