International Finance: Stocks extend Fed-fuelled rise in Asia; dollar dips: markets wrap

A benchmark of Asian stocks climbed as much as 1%, with Hong Kong-listed technology companies among the top performers. The picture was more mixed in Japanese and mainland China markets.

Positioning in US swaps markets assumes the Fed is getting closer to cutting rates as traders bet that economic conditions are likely to keep it from the additional rate increases that policymakers still anticipate. “US sector performance was consistent with the big rally in fixed income across the curve, which for Asia-Pacific should support duration proxies like tech and soft landing beneficiaries like consumer discretionary,” said Chamath De Silva, senior portfolio manager for BetaShares Holdings.

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