Asia stocks rally on Fed cut bets; Aussie jumps on jobs data

TOKYO - Asian stocks gained on Thursday, tracking Wall Street's tech-led rally overnight after an as-expected reading of U.S. consumer inflation cemented bets for a Federal Reserve interest-rate cut next week.topped 40,000 for the first time since mid-October, led by advances in chip-sector shares. The exporter-heavy index also got a boost from a weakening yen, as traders pared bets for a Bank of Japan rate hike next week.

The Australian dollar surged after employment data topped estimates by a wide margin, rebounding from Wednesday's weakness following a Reuters report that Beijing is considering allowing the yuan to depreciate further next year. China is Australia's top trading partner and theThe yuan held its ground above a one-week low after the central bank set a marginally stronger official fixing.The U.S. consumer price index rose 0.

It slipped 0.2% to 152.11 yen, edging back from a two-week high hit Wednesday on the back of a Bloomberg report that BOJ officials see"little cost" in waiting to hike rates again. Market-implied odds on a quarter-point increase on Dec. 19 last stood at 27%.Gold rose to a more than one-month high amid the promise of lower bond yields as the Fed and other major central banks ease policy. It reached $2,725.79 for the first time since Nov. 6 before pulling back to $2,710.45.U.S.

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Asia markets kickstart data-heavy week on a strong note with Aussie stocks hitting record highsSingapore will release its inflation figures for October on Monday. Economists expect headline inflation at 1.8%, down from 2% in the prior month.
Fuente: NBCNewYork - 🏆 270. / 63 Leer más »

Asia markets kickstart data-heavy week on strong note, with Aussie stocks hitting record highsSingapore will release its inflation figures for October on Monday. Economists expect headline inflation at 1.8%, down from 2% in the prior month.
Fuente: NBCNewYork - 🏆 270. / 63 Leer más »