Markets have been boosted by hopes for a US interest rate cut and China's moves to shore up its property sector, though focus is now on earnings from chip titan Nvidia. Photo: MOHD RASFAN / AFPAsian investors fought Wednesday to revive a recent rally across markets as they turned their focus on the release later in the day of earnings from US
A slowdown in US inflation and China's announcement last week of plans to support its crucial but battered property sector have helped propel equities but, with that euphoria petering out, traders are taking a breather. However, there is a worry that the figures do not match sky-high expectations, which some observers say could spark a hefty sell-off, particularly among market-heavyweight tech firms.After the previous day's retreat, most Asian markets rose Wednesday, with Hong Kong, Shanghai, Sydney, Seoul, Wellington, Taipei and Jakarta all in positive territory. Tokyo fell, however.
Fed governor Christopher Waller said he wanted to see"several" months of additional data, while Atlanta boss Raphael Bostic warned that"one number is not a trend" and he did not see a reduction before the fourth quarter.
Source: News Formal (newsformal.com)
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