Asian stocks drift higher amid rate cut speculation; Japan lags

Investing.com-- Most Asian stocks rose on Friday as focus turned to the Federal Reserve’s first potential interest rate cut in over four years, with Hong Kong markets leading gains on bargain buying into local technology heavyweights.

Regional markets tracked some overnight gains on Wall Street, where investors looked past sticky inflation prints amid persistent bets on an interest rate cut by the Fed when itindex was the best performer in Asia on Friday, extending a rebound into a third session as traders bought into heavily discounted local internet stocks.Sentiment towards China remained strained following a string of middling economic readings from the country for August. The prospect of more U.S.

BOJ officials warned that the central bank will likely raise interest rates higher in tandem with stronger inflation. But soft producer price index inflation somewhat undermined this messaging., although investors are uncertain over another rate hike from the bank. Japanese consumer inflation data is also on tap next week.Broader Asian markets were mixed amid speculation over whether the Fed will cut rates by 25 or 50 bps next week.

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