Asian Stocks to Echo US Gains on Fed Rate Signals: Markets Wrap

-- Asian equities were primed to rally Thursday after US stocks touched fresh highs as the Federal Reserve indicated it would meet market expectations with three rate cuts this year.Baltimore Wants to Sell Hundreds of Vacant Homes for $1 Each

Policymakers kept their outlook for three cuts in 2024 and moved toward slowing the pace of reducing their bond holdings, suggesting they aren’t alarmed by a recent uptick in inflation. While Jerome Powell continued to highlight officials would like to see more evidence that prices are coming down, he also said it will be appropriate to start easing “at some point this year.”

In Asia, Japan trade data is due, as is PMI data for India and Japan, and inflation for Hong Kong. Taiwan will hand down a monetary policy decision.In corporate news, shares in Micron Technology Inc., the largest US maker of computer memory chips, jumped in late trading on a surprisingly strong revenue forecast. Elsewhere, Tencent Holdings Ltd. plans to raise its stock buyback program to at least $12.8 billion this year.

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