Hong Kong stocks lead gains in Asia after Fed maintains rate forecast; Nikkei hits fresh all-time high

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Investors in Asia will be watching for economic data from Australia, Japan and India

Japan's markets hit a fresh all-time high as Asia markets climbed after Federal Reserve maintained its forecast for three rate cuts while

The country's bureau of statistics said that this was due to a larger-than-usual number of people who were waiting to start or to return to jobs from December and January. Japan's trade deficit narrowed more than expected to 379.4 billion yen, a smaller deficit compared with estimates of 810.2 billion yen and January's 1.76 trillion.The Reuters Tankan survey is a key gauge for the Bank of Japan's quarterly Tankan survey that is scheduled to be released on April 1. Services-sector mood jumped to a seven-month high.

The drugs, which imitate the effects of the GLP-1 hormone to reduce appetite and calorie intake dramatically, are showing remarkable efficacy in clinical trials. As a result, patients lose up to 25% of their body weight on average. On a year-on-year basis, GDP in New Zealand expanded 0.6%, slowing from the 1.3% growth recorded in the third quarter.Traders work on the floor at the New York Stock Exchange in New York City, U.S., February 29, 2024.

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