Asian stocks follow Wall St up on interest rate hopes
Asian stock markets have followed Wall Street higher after a Federal Reserve official raised hopes the U.S. central bank might not step up its anti-inflation fight as much as feared
By JOE McDONALD
Published - Mar 02, 2023, 11:00 PM ET
Last Updated - Jun 22, 2023, 06:11 PM EDT
BEIJING (AP) — Asian stock markets followed Wall Street higher Friday after a Federal Reserve official raised hopes the U.S. central bank might not step up its anti-inflation fight as much as feared.
Shanghai, Tokyo, Hong Kong and Sydney advanced. Oil prices retreated.
Wall Street rose Wednesday for the first time in three days after the president of the Federal Reserve Bank of Atlanta, Raphael Bostic, expressed support for raising the Fed's benchmark lending rate to a range of 5% to 5.25% — less than many investors are forecasting. Bostic said the Fed might be able to suspend additional rate increases by mid-year, sooner than some expect.
Stocks advanced following those “dovish comments,” said Anderson Alves of ActivTrades in a report.
