Asian Stocks Poised to Track Wall Street Recovery: Markets Wrap
- Sydney stocks may climb 1%; Tokyo, Hong Kong shares to edge up
- US inflation data this week may give fresh Fed rate-cut clues
Asian stocks were set to track a rebound on Wall Street fueled by renewed dip-buying ahead of inflation data due later this week that may give clues on the size of Federal Reserve rate cuts.
Futures pointed to Sydney’s benchmark climbing about 1%, with smaller gains in Tokyo and Hong Kong, in a reprieve from the September selloff triggered by concerns of a global economic slowdown. The S&P 500 rose 1.2% after its worst start to the month on record, according to Bespoke Investment Group data going back to 1953. US equity futures edged higher early Tuesday.
