Asian Markets Surge on Hopes of Peaking Fed Rate Hikes and Easing Financial Conditions
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Asian markets rally, extending gains on Wall Street as confidence grows that Fed is done hiking rates.
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Expectations that financial conditions will ease in 2023 as inflation falls have spurred a rush into risk assets.
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Hong Kong stocks jump over 1% after tech giant Alibaba bounces back from recent losses.
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Yen strengthens as speculation grows that Bank of Japan may shift from ultra-loose monetary policy.
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Fed officials remain cautious on rate cuts despite growing expectations of potential cut as early as March 2023.