(Bloomberg) — Shares in Asia rose after gains in US stocks pushed the S&P 500 to within a whisker of its record high as investors bet that the Federal Reserve will cut interest rates as early as March.
Most Read from Bloomberg
The MSCI Asia Pacific Index jumped as much as 0.8%, the highest in over four months, with most markets in the green. Australia’s S&P/ASX 200 index rose to its highest intraday level since April 2022, within 1% of a record high, fueled by gains in miners amid rising iron ore prices, as markets reopen after a long weekend.
Hong Kong stocks also advanced after returning from the holiday break, led by Chinese tech firms after Beijing softened its stance on the gaming industry following a stock selloff sparked by proposed curbs. Equities in Shanghai and Shenzhen fell, shrugging off a quickening speed of growth in the country’s industrial profits helped by favorable base effects.
US futures fluctuated after the S&P…
