Reported 8 months ago
Asian shares reached a three-week high due to a surge in tech stocks, while the dollar was unstable following weak U.S. retail sales data, reinforcing the anticipation of a Federal Reserve interest rate cut later this year. Asian stocks outside Japan climbed 0.72%, led by tech stocks at a record high, with Japan's Nikkei up 0.59% and China's blue chip stocks slightly down. The Hang Seng index in Hong Kong rose by 1.3%. After U.S. retail data indicated sluggish economic activity, rate cut expectations for September increased, with traders pricing a 67% chance of easing compared to 61% the day before. The article also touches on the impact on various currencies and commodities in the region and globally.
Source: YAHOO