July 19, 2024

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Asian Stocks to Rise After US Shrugs Off Powell: Markets Wrap

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Asian stocks are set to climb in early trading as markets parse Federal Reserve Chair Jerome Powell’s reminder that policymakers are in no hurry to ease interest rates.

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(Bloomberg) — Asian stocks are set to climb in early trading as markets parse Federal Reserve Chair Jerome Powell’s reminder that policymakers are in no hurry to ease interest rates.

Equity futures in Australia, Japan and Hong Kong point to early gains when markets reopen Monday. The S&P 500 index climbed higher Friday, to close ahead for a fifth week and reach its highest close since March 2022. Contracts in mainland China point to an early loss after the Golden Dragon Index – a gauge of US-listed Chinese shares – slumped 1% in its last session. 

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Bloomberg News

2023-12-03 17:25:10

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