Asian stocks rise as tech rallies on easing Fed fears; China lags

Investing.com-- Most Asian stocks rose on Thursday, buoyed by a rally in the technology sector as somewhat middling comments from the Federal Reserve spurred bets that the central bank was done with its run of interest rate hikes.

But Chinese stocks saw little gains, as a string of weak economic readings from the country kept traders largely averse., comments from Chair Jerome Powell suggested that interest rates may not rise further this year, especially as the U.S. economy cools. This saw U.S. Treasury yields fall sharply in overnight trade, in turn boosting technology stocks.U.S.

Powell still left the door open for more potential hikes, but reiterated that they will be contingent on the path of the U.S. economy. Given that his comments came a few hours after the release of weaker-than-expectedHigher rates weigh on tech stocks by diminishing their future earnings potential. This trend had battered the sector as the Fed hiked rates sharply over the past year.But despite Thursday’s rally, most Asian markets were still nursing steep losses for October.

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