HONG KONG — Asian markets mostly rose Friday while the yen sat around nine-month highs and gold hit a record after another healthy day on Wall Street as investors gear up for an expected US interest rate cut next week.
More data suggesting the Fed eral Reserve was winning the battle against inflation provided an extra kick for equities after another rollercoaster week that started with big losses fuelled by US recession worries.While concern after last Friday's big miss on US jobs creation — which followed another well-below-forecast read a month ago — continues to linger, traders are turning their attention to the central bank decision on September 18.
'Confidence that the Fed would cut provided support to Wall Street, and Asia mostly followed suit.Hong Kong, Sydney, Singapore, Seoul, Wellington, Taipei and Bangkok were in the green, along with London, Paris, and Frankfurt at the open. Shanghai and Mumbai fell, however.Tokyo was weighed by a stronger yen, which briefly hit the 140.65 per dollar mark last touched at the end of December on bets the Fed will ease monetary policy.
Rise Ahead Of Likely Fed Rate Cut
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