Asia stocks rally on Fed cut bets; Aussie jumps on jobs data

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TOKYO: Asian stocks gained on Thursday, tracking Wall Street's tech-led rally overnight after an as-expected reading of U.S.consumer inflation cemented bets for a Federal Reserve interest-rate cut next week.

"The market has essentially seen one of the last remaining obstacles that could derail sentiment out of the way", he said, "seeing the coast somewhat clearer for the illustrious seasonal chase of returns to play out into year-end".

Japan's Nikkei topped 40,000 for the first time since mid-October, led by advances in chip-sector shares.

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Category: EconomyBusiness

Markets: MalaysiaAustraliaChinaHong KongJapanSouth KoreaMaliTaiwan

Topics: Commodities /Business/Business News Trading Equities Markets Economy Asia

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-12 @ 16:50:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 644 words

Reading Time: 4 minutes read

Sentences: 24 lines

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Copyright Owner: © The Star

News ID: 24372398

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Main Topics: EconomyBusiness

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