30 August 2024

Asian markets rally on US data after Dow hits record on Wall St

By Redoy K

Asian markets rose Friday following a record day on Wall Street, buoyed by strong US economic data. Investors are now focused on upcoming inflation figures and jobs reports, which will influence Federal Reserve interest rate decisions. Tokyo inflation data exceeded expectations, supporting the case for a Bank of Japan rate hike. Tech stocks in Asia recovered from Nvidia-related losses. Key indices in Hong Kong, Tokyo, and Shanghai showed gains, while the yen strengthened slightly against the dollar.READ FULL