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Asian stocks bounce higher on signs rate hikes are working

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Asian stocks rose on Wednesday as investors grew hopeful future global interest rate rises might become less aggressive amid early signs previous policy tightening was working to temper price pressures in some major world economies.

The S&P 500 has recorded its third-best start to an October since 1930, according to Macquarie analysts.

"Views are mixed as to whether markets have now bottomed out or whether this recovery will be short-lived."

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