Early Asia wrap: Hope for US rate cuts drives the bus

Stephen Innes SPI Asset Management

Shares in Asia saw a rise on Friday, following a positive day on Wall Street spurred by jobs data that bolstered the argument for US rate cuts.

In Hong Kong, gains were fueled by reports that regulators were contemplating exempting individual investors from taxes on dividends earned from Hong Kong stocks purchased via Stock Connect.

The changing sentiment indicating a potential earlier US rate cut is a pivotal consideration for investors in today's stock market playbook. This shift suggests that rate cuts could fuel optimism in global stocks, prompting investors to focus on acquiring big tech growth stocks. Indeed, hope for US rate cuts is driving the bus today.

Author

Stephen Innes

SPI Asset Management

With more than 25 years of experience, Stephen has a deep-seated knowledge of G10 and Asian currency markets as well as precious metal and oil markets.

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