Asian markets rise as Wall Street nears record highs

Asian markets mostly rise as Wall Street nears record highs

Asian markets mostly rose on Tuesday following Wall Street’s longest winning streak of the year. Japan’s Nikkei 225 rebounded strongly, while China kept its key lending rates unchanged. Meanwhile, U.S. stocks are nearing record highs.

Asian markets mostly rise as Wall Street nears record highs

In Japan, the Nikkei 225 climbed 2.1% after a previous drop, while the yen traded at 146.94 against the U.S. dollar. China kept its key lending rates steady after last month’s cuts aimed at boosting the economy.

 

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Hong Kong’s Hang Seng fell 0.3%, and Shanghai’s Composite dropped 1.0%. Australia’s ASX 200 gained 0.2% after the Reserve Bank decided to hold interest rates at 4.35%. South Korea’s Kospi jumped 0.8%.

On Wall Street, the S&P 500 achieved its longest winning streak of the year, while the Dow and Nasdaq also posted gains. Treasury yields were steady, and oil prices slipped. All eyes are on a speech by Fed Chair Jerome Powell later this week, where interest rate cuts are expected.

 

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