Upbeat Tech Gains, Rate Cut Hopes Propel Asian Markets
Asian equities are buoyed by tech-led gains in the U.S., enhanced by positive earnings and expectations for American rate cuts. Meanwhile, geopolitical meetings and trade uncertainties influence market sentiments. The Bank of England is seen likely to cut rates again amid inflation concerns, while the U.S. dollar shows slight declines.
Asian markets saw a boost on Thursday, led by Japanese equities reaching record heights. This surge was driven by tech-fueled gains on Wall Street, positive earnings, and growing expectations of U.S. interest rate cuts.
Further influencing market sentiment were anticipated talks between Presidents Trump and Putin over the Ukraine conflict. This geopolitical activity bolstered the euro but added uncertainty to oil price futures due to potential sanction impacts.
Sterling maintained a one-week high as the Bank of England prepared for a likely rate cut. Meanwhile, the U.S. dollar experienced dips, affected by dovish monetary policy expectations and recent disappointing data.
(With inputs from agencies.)
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