Asian stocks boosted by rate cut bets, tech tracks Nvidia rally

Investing.com-- Most Asian stocks rose on Thursday amid increased optimism over lower interest rates across the globe, while regional technology shares surged tracking overnight gains in artificial intelligence darling Nvidia.closed at record highs. Gains were in part driven by weak labor market data, which ramped up hopes that the Federal Reserve will cut interest rates by September.

A rate cut by the Bank of Canada on Wednesday, and anticipation of a widely expected cut by the European Central Bank on Thursday also ramped up optimism over lower lending rates across the globe.) rallied to a $3 trillion valuation on Wednesday, amid persistent hype over AI. Sentiment towards chipmakers was also supported by reports of positive comments from ASML Holding NV - the biggest contract chipmaker in the world and a top Nvidia supplier- surged 5% to a record high in Taiwan trade.

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