Asian stocks rise as US rate hopes soothe nerves after torrid week

Asian stocks rise as US rate hopes soothe nerves after torrid week

Asian markets mostly rose Monday as fresh hopes for a US interest rate cut provided some calm after last week’s rollercoaster ride fuelled by worries of a tech bubble. That has been compounded in recent weeks by falling expectations the Federal Reserve will cut rates for a third successive time next month as stubbornly high inflation overshadows weakness in the labour market.

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