Asian Stocks Rise on Fed Rate Cut Bets, Extending Global Rally

Asian stocks generally rose, driven by Wall Street`s positive performance and expectations that the US Federal Reserve will soon signal interest rate cuts. This bullish trend, fueled by easing concerns about US growth and inflation, has been ongoing, with the MSCI Asia Pacific Index rising in most recent sessions. However, trading volume has decreased as investors await the Federal Reserve`s Jackson Hole economic symposium, where central bankers are expected to express differing views on the economic outlook. While the US dollar weakened and gold reached record highs, oil prices dropped. Meanwhile, Australia`s central bank indicated a prolonged period of high interest rates, and Chinese banks maintained their lending rates.