Asian markets set to extend rally as global stocks soar to new highs
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Asian markets are expected to continue their rally following a surge in global stocks, with the S&P 500 rising 1.7% and the Nasdaq 100 increasing by 2.6%. US jobless claims dropped to their lowest since May, indicating a healthy labor market, which supports the Federal Reserve's recent 50 basis point rate cut. The Bank of Japan is anticipated to maintain its interest rate, while traders await inflation data. The S&P 500 achieved its 39th record in 2024, with a year-to-date increase of about 20%. A survey indicated that 75% of respondents expect a soft landing for the US economy post-rate cut, favoring value stocks over AI stocks. Key upcoming events include Japan's CPI and rate decision, and China's loan prime rates.

#AsianMarkets #GlobalStocks #FederalReserve #InterestRates #S&p500 #JoblessClaims #Japan #China #ValueStocks #Commodities

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