Asian stocks rise on Fed pause bets, China lags on weak inflation … – Investing.com
Investing.com — Most Asian stocks advanced on Friday, as weak U.S. labor data ramped up bets on a pause in the Federal Reserve’s rate hike cycle, although disappointing inflation readings from China capped broader gains.
Technology stocks lead gains as Fed pause bets rise
Technology-heavy indexes such as South Korea’s KOSPI and the Taiwan Weighted index rose 0.9% each on Friday, as an unexpected rise in weekly U.S. jobless claims pushed up bets that the Fed will hold rates steady next week.
Japan’s Nikkei 225 and TOPIX were the best performers for the day, up 1.7% and 1.3%, respectively, and also moving back towards 33-year peaks hit earlier in the week. Positive economic readings from the country, chiefly an upward revision in first-quarter GDP, also helped sentiment towards local stocks.
Gains in major tech stocks also kept Hong Kong’s Hang Seng index in positive territory. Risky, returns-focused growth stocks tend to benefit from the prospect of fewer interest rate hikes,…
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source: https://news.oneseocompany.com/2023/06/08/asian-stocks-rise-on-fed-pause-bets-china-lags-on-weak-inflation-investingcom_2023060845858.html
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