-
Asia Stocks to Rise as S&P 500 Closes Above 5,500: Markets Wrap
Asian stocks rose, tracking a record S&P 500 close, on optimism of US rate cuts after Federal Reserve Chair Jerome Powell said inflation is getting back on a downward path. The MSCI AC Asia Pacific Index headed for its longest stretch of gains since May. Japanese equities also rose, with the benchmarks now around 1% from their record highs. Singaporean stocks led among major Asian markets in gains, on the strength of banking shares. Contracts for the S&P 500 edged lower after the benchmark closed above 5,500 for the first time, the gauge’s 32nd record this year. Tesla Inc. surged 10% to lead gains in ... (full story)