Asian Stocks Surge on Fed Rate Cut Hopes

Asian stock markets surged this week, driven by growing investor confidence in U.S. Federal Reserve interest rate cuts, particularly in technology stocks. The anticipation of these cuts, possibly in December, was fueled by cooling U.S. inflation data. Despite Federal Reserve officials cautious stance, most broader Asian markets rallied, with South Korea, Taiwan, Hong Kong, and China seeing significant gains. Indian stocks also reached record highs, while Japans Nikkei dipped due to investors taking profits and slower business activity growth.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.