Asian stocks set to rebound after upbeat US data
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Asian stocks are expected to rise following positive US growth data indicating a potential soft landing for the economy; US equity futures in Australia surged while Japan's edged higher; the S&P 500 closed near 5,590, with the Dow Jones Industrial Average reaching an all-time high; the Nasdaq Golden Dragon Index rose 2.6%; the US economy showed stronger growth in Q2, with consumer spending revised upward; analysts suggest that as long as the tech sector remains stable, market gains could continue; traders are watching Tokyo inflation data for potential Bank of Japan rate hikes; Commonwealth Bank strategists predict another BOJ rate increase later this year; US Treasuries experienced slight losses, with a $44 billion seven-year note sale; the yield on 10-year bonds rose to 3.86%; oil prices increased due to strong economic data and supply issues in Libya.

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