Asia stocks rally, led by Hang Seng on debt-ceiling deal approval, hopes Fed is done with rate hikes

BEIJING — Asian stock markets followed Wall Street higher Friday ahead of a U.S. jobs update after Federal Reserve officials reignited hopes another interest rate hike might be postponed.

Wall Street’s benchmark S&P 500 index rallied 1% on Thursday after data showed manufacturing and retail activity weakening. That added to hopes the Fed might decide upward pressure on prices is easing and more rate hikes can be postponed or scaled down. Late Thursday, the Senate gave final approval to an agreement to raise the amount the government can borrow in exchange for spending cuts.

India’s Sensex 1 opened up less than 0.1% at 62,434.48. New Zealand declined while Bangkok advanced. Markets in Singapore and Indonesia were closed for holidays. That’s good news for workers and the overall economy, but the Fed worries a strong job market could also keep pressure up on inflation.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asia stocks gain as Fed hike bets recede, debt vote eases nervesMost Asia-Pacific stock markets rose on Thursday amid receding bets for a U.S. rate hike this month and relief over the passage of the U.S. debt ceiling bill through the House.
Source: Reuters - 🏆 2. / 97 Read more »

Asia stocks rise amid Fed pause talk, debt bill passageMost Asia-Pacific stock markets rose on Thursday amid receding bets for a U.S. rate hike this month and relief over the passage through the U.S. House of Representatives of a bill to suspend the federal debt ceiling.
Source: Reuters - 🏆 2. / 97 Read more »

Hang Seng nears bear market as China manufacturing slows; JPM says 'the consumer might not get stronger.'The Hang Seng is on the brink of a bear market having fallen nearly 20% from a recent peak after more data showing a slowdown in China.
Source: MarketWatch - 🏆 3. / 97 Read more »

Asian Stock Market: US debt-ceiling bill approval and Fed’s neutral commentary uplift market moodMarkets in the Asian domain posted significant gains on Friday. Rally in Asian indices is being supported by the clear passage of the US debt-ceiling
Source: FXStreetNews - 🏆 14. / 72 Read more »