Asia markets rise as Fed's Powell signals rate cuts are on the horizon
Publishing timestamp: 2024-03-08 03:08:16
Summary
Asia-Pacific markets rose after comments from U.S. Federal Reserve Chair Jerome Powell hinted at possible interest rate cuts. Stocks in Australia, Japan, South Korea, Hong Kong, and China all saw gains. Li Auto announced plans to launch more than 2000 super charging stations. In Japan, the yen continued to strengthen against the U.S. dollar. Shares of Nvidia have risen significantly due to surging sales of its chips for AI applications. Oil prices edged lower after Powell's testimony on interest rates. Federal Reserve officials are cautious about cutting rates too quickly.
Sentiment: MIXED
Tickers: .N225, @CL.1, .IXIC, NVDA, .AXJO, .SSEC, .SZI, .DJI, .DXY, .SPX, JPY=, @LCO.1, .HSI, AUD=, .KS11,
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Source: https://www.cnbc.com/2024/03/08/asia-markets-live-updates.html