Asian stocks rise on hopes of Fed rate cut, boosted by weaker inflation data

From Yahoo Finance: 2024-06-02 18:36:17

Asian stocks surged on Monday as hopes for a Fed rate cut were boosted by weaker inflation data. Equities in Australia and Japan rose, with futures pointing to gains in Hong Kong. Indian markets are set to climb after exit polls indicated Modi’s party victory, while the peso in Mexico also strengthened. Despite political volatility risks, shares in Asia advanced 1.5% in May. Oil slipped after OPEC+ extended production cuts, and the dollar was stable. Inflation data is being closely watched globally this week, alongside key events such as the ECB rate decision and the US jobs report on Friday.



Read more at Yahoo Finance: Asian Stocks Eye Early Gains as Rate Cut Bets Firm: Markets Wrap