Asia Shares Surge Amid Fed Rate Cut Speculation
Asian shares rose for a second day, driven by expectations of Federal Reserve rate cuts following weak U.S. payroll data. Oil prices remained low due to increased OPEC+ production and potential U.S. tariffs on India. Key financial indices showed slight gains as market attention turned to company earnings reports.
Asian stock markets experienced a second day of gains fueled by expectations that the Federal Reserve might cut interest rates following subpar U.S. employment figures. Investors are hopeful that the world's largest economy will be bolstered by these anticipated measures.
Oil prices held steady at lower levels as OPEC+ increased production and U.S. tariffs on Indian imports loomed. Meanwhile, Japan's Nikkei index saw a notable rise, propelled by significant growth in the nation's service sector in July.
Globally, financial markets have responded to mixed economic signals, with investors keeping a keen eye on corporate earnings. Key players like Nvidia and Alphabet displayed positive momentum, raising hopes for a resilient market outlook despite ongoing geopolitical tensions.
(With inputs from agencies.)
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