Asia Stocks to Follow US Rally on Rates Optimism: Markets Wrap
Asian stocks rose in early trading, following Wall Street’s gains on optimism the Federal Reserve will start cutting interest rates this year. The yen dropped.
Asian stocks rose in early trading, following Wall Street’s gains on optimism the Federal Reserve will start cutting interest rates this year. The yen dropped.
Oil advanced for a second day on tensions in the Middle East, with Israel rejecting a cease-fire proposal for the Gaza Strip, and a risk-on mood that helped lift wider financial markets.
Louis Dreyfus Co. has surpassed rival agricultural trader Olam Agri Holdings Ltd.’s most recent bid for Namoi Cotton Ltd., as the bidding war for the Australian producer heats up.
ANZ Group Holdings Ltd. announced a A$2 billion ($1.3 billion) buyback as first-half earnings missed estimates, continuing the trend of Australian banks handing investors a sweetener as profits decline.
A rapid weakening of the South Korean won is creating headaches for some of the country’s exporters that have typically benefited from a competitive exchange rate.
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