Asia stocks hit 27-month top, dollar slips on Fed Reserve's rate cut talk

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Asia stocks hit 27-month top, dollar slips on Fed Reserve's rate cut talk - Business Standard

Quick Summary:

The yen remained out in the cold, hitting multi-year lows on a host of currencies as investors continued to favour carry trades.The dollar stood at 161.40 yen after striking a 38-year top of 161.96 overnight.

Japan's Nikkei rose 0.4 per cent and was within spitting distance of its March peak, while the broader Topix clinched all-time highs.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.7 per cent to its highest since April 2022.