From Investing.com: 2024-05-06 22:28:26

Most Asian stocks rose on Tuesday as optimism over a decline in U.S. interest rates persisted. Japan and South Korea surged in catch-up trade, with gains boosted by softer-than-expected U.S. data. Australian stocks also extended gains as the Reserve Bank of Australia struck a less hawkish tone. Wall Street’s positive lead was driven by strong first-quarter earnings in the technology sector. U.S. stock index futures dipped slightly ahead of more cues on U.S. rates. Traders anticipate a potential rate cut by the Federal Reserve in September.

Japan’s Nikkei and South Korea’s KOSPI were the top performers in Asia, rising in response to expectations of Fed rate cuts. Australian stock index ASX 200 also saw gains as the RBA hinted at a slower inflation target. Weak earnings and data limited broader Asian market gains. Hong Kong’s index dipped after a 10-session rise, while Indian futures pointed to a muted open after previous losses.



Read more at Investing.com: Asian stocks creep higher, Australia rises on less hawkish RBA By Investing.com