Asia stocks set to rise as Fed slashes interest rates, S&P 500 hit record highs

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Asia stocks set to rise as Fed slashes interest rates, S&P 500 hit record highs
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Investors will watch for market reaction to the Federal Open Market Committee's overnight decision to cut its benchmark funds rate by 25 basis points. The central bank also removed a key phrase from its statement that said it will 'act as appropriate' to sustain the current expansion.

in Australia was down 0.19% in early trade, with most sectors edging higher.

China's Purchasing Managers' Index data for October is expected to be released at about 9:00 a.m. HK/SIN. Investors will watch for market reaction to the Federal Open Market Committee's overnight decision to cut its benchmark funds rate by 25 basis points.

while signaling a big holiday quarter ahead. Apple CEO Tim Cook said in a statement: "We're very optimistic about what the holiday quarter has in store."

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