Asia-Pacific markets started the week with gains after New York Fed President John Williams signaled that a third interest rate cut is still possible this year. His statement that labor market weakness is a greater risk than inflation has increased the odds of a December rate cut, with the market now pricing in around a 70% chance.
Today's gains also represent a rebound from last week's decline, when Asian technology stocks plunged. South Korea led the recovery, with the Kospi rising 1.28% and the Kosdaq gaining 0.5%, while Samsung jumped more than 3%. In Australia, the ASX 200 index rose 1.08% after being under pressure at the end of the week.
Several individual stocks posted strong gains. Qube in Australia surged nearly 20% after receiving an acquisition offer from Macquarie Asset Management, while BHP rose 0.7% after abandoning its merger plans with Anglo American. In Hong Kong, the Hang Seng contract rose 1.27% compared to the previous close, while Japanese markets were closed for a national holiday. (asd)
Source: Newsmaker.id
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