Asian Stocks Ride High Amid U.S. Tech Rally and Inflation Focus
Asian stocks saw modest gains as tech-driven rallies on Wall Street bolstered market sentiment. With Nvidia's AI investments maintaining momentum, investor attention shifts to U.S. inflation data for insights into Federal Reserve’s rate decisions. Meanwhile, anticipation of potential rate cuts influences currency movements and commodity prices.
Asian stocks rose modestly on Friday, benefiting from a tech-led surge on Wall Street. Investors are now turning their attention to a significant U.S. inflation reading expected later today, which could provide clues on the Federal Reserve's future rate decisions.
Nvidia's recent performance, although below investor expectations, confirmed that spending on AI infrastructure remains robust. This helped propel indices like the S&P 500 and Dow Jones to record high closes overnight, a trend that resonated positively across Asian markets. MSCI's broadest index of Asia-Pacific shares outside Japan increased by 0.4%.
Meanwhile, anticipation surrounding the release of the U.S. PCE price index is high, as traders await potential signs of tariff impacts and inflation trends. This focus comes ahead of three critical data releases before the Federal Reserve's meeting in September, heightening expectations of a rate cut.
(With inputs from agencies.)
Google News