[HONG KONG] Asian markets rose on Friday on fresh trade hopes and the dollar held around three-year lows amid bets of cuts to US interest rate cuts.
Easing concerns about Middle East tensions also added to the upbeat mood.
With the Israel-Iran ceasefire holding for now, investors were able to turn their attention back to the economy and Donald Trump’s tariffs as a deadline for countries to strike deals with Washington approaches.
Bets on a Federal Reserve rate cut jumped this week after the US president said he had candidates in mind to succeed boss Jerome Powell when he leaves next year, with reports saying he would make an announcement as early as September.
That was followed Thursday by data showing the world’s top economy contracted more than previously estimated in the first quarter and consumer spending grew less than expected.
Traders are now fully expecting two rate cuts this year, while there was a pick-up in bets on a…
