Posted 11/6/2023, 2:00:15 AM
Asian Shares Rally on Hopes of Early Rate Cuts From Central Banks
- Asian shares extend rally on hopes of early rate cuts from central banks like the Fed, ECB, and BoE.
- Futures markets price in high chances of rate cuts in the U.S. and Europe as early as June and April.
- Hopes for lower borrowing costs help Asia-Pacific shares outside Japan gain 1.7%.
- Japanese Nikkei rises 2.5% while South Korea's KOSPI climbs 3.9%.
- Easing dollar and yields help gold stay near 5-month peak. Oil edges up on continued OPEC+ output cuts.