 Robust risk-on sentiment was seen in the US markets overnight, with DOW extending its record-breaking run. S&P 500 is also approaching its historical peak, now just 50 points shy, and appears poised to challenge this high. The bullish momentum is underpinned by messages from Fed officials, suggesting that while an immediate rate cut is not anticipated, policy easing should be on the horizon for the second half of next year. This scenario hinges on the continued cooling of inflation as a trend as per current expectations. In Asia, market responses are more varied. Nikkei in Japan is having over 1.5% rise, largely benefiting from BoJ's continued dovish stance, which also drags down 10-year JGB yield notably. However, this positive sentiment is not uniformly reflected across all Asian markets. Hong Kong stocks are seeing a rebound, while markets in China and Singapore are showing signs of weakness.... |
