Asian share markets mirrored Wall Street’s upward trajectory on Friday, buoyed by projections of swift U.S. rate reductions aimed at easing borrowing costs worldwide. The resulting optimism benefited European markets, although S&P 500 and Nasdaq futures remained steady despite hitting new overnight peaks.
In Asia, indexes in Japan, South Korea, and Taiwan neared record levels, with Chinese stocks reaching a 3-1/2 year high, driven by high hopes for AI-related revenue growth. The recent U.S. consumer price report seemingly cleared the way for the Federal Reserve’s anticipated interest rate cuts next week, appearing stable with a few firm readings.
The ECB maintained its rates unchanged, suggesting stability in its policy approach barring any significant growth disruptions. Meanwhile, markets speculated over future cuts with mixed probabilities, reflecting a global landscape influenced by monetary policy anticipations and burgeoning fiscal challenges.
(With inputs from agencies.)
