Asian stocks climb on Wall Street's lead; dollar sags after Fed cut

TOKYO - Asian stocks rose broadly on Friday, tracking Wall Street's overnight rise to record highs, as investors digested the Federal Reserve's message for careful interest rate cuts even with expectations for big fiscal spending under incoming President Donald Trump.

However, optimism over stimulus from Beijing buoyed sentiment as the week-long National People's Congress Standing Committee meeting concludes on Friday with officials holding a briefing. Sources previously told Reuters that Chinese fiscal spending could be increased in the event of a second Trump presidency.Global stocks, led by Wall Street, are headed for a 3.3% weekly advance, and stand at a record high.

"We think that the economy, and we think our policies, are both in a very good place, a very good place," Powell said in his post-meeting news conference. "Markets have already gone through the 'honeymoon period' for the president-elect, and USD and U.S. rates now are in the 'window period', when they consider the policy outlook," said Shoki Omori, chief Japan desk strategist at

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