Asia markets rise on revived hopes for a Fed rate pause
Traders are looking at China, where there is growing speculation that authorities will unveil fresh stimulus measures to kickstart the world’s number two economy, with the post-zero-Covid rally already fading. – EPA pic, June 9, 2023.
STOCKS rallied again in Asia today, fired by renewed optimism that the Federal Reserve will hold off lifting interest rates next week as fresh data indicated further tightening in the US labour market. Expectations the central bank will stand pat next week – for the first time since starting its hiking cycle last year – have pushed equities higher for most of the month, helped by the end of the US debt ceiling standoff.
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