Asia-Pacific markets were set to extend gains from the previous session as Wall Street rose overnight on expectations that the Federal Reserve will cuts interest rates.In Asia, investors await the Reserve Bank of Australia decision on rates as the bank concludes its two-day monetary policy meeting. Economists polled by Reuters expect the RBA to hold its benchmark lending rate at 4.35% for its fourth meeting in a row.
While Chinese consumers' spending intentions for the ongoing quarter shows that they plan to spend more money on luxury, the investment bank's analysts"remain cautious about the possibility of seeing improving trends." Analyst Michael Hsueh said in a note to clients Monday that platinum funds have seen a recent uptick in inflows after platinum prices have drifted well below that of gold.
Source: Financial Digest (financialdigest.net)
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