Asian Shares Rally as Investors Bet on Fed Pause in Rate Hikes
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Asian shares hit fresh two-month highs on Tuesday, tracking Wall Street's rally as investors bet the Fed is nearing the end of its rate hikes.
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MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.97% at 510.11, its highest since Sept. 18.
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Wall Street's major indexes rose on Monday, led by a 1% gain in the Nasdaq as Microsoft hit a record high.
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Traders have priced in a high likelihood the Fed will keep rates unchanged in December, and some bet on rate cuts as soon as March.
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Lower Treasury yields kept the dollar under pressure, with the dollar index down 0.135% at 103.31 after touching a near three-month low.