Asian Stocks Rise as Copper and Gold Prices Reach Records – Asia Market Wrap

Asian equities surged, boosted by shares of commodity-related companies as copper and gold prices reached new highs. Optimism about further Federal Reserve interest-rate reductions fueled the rise.

Japanese stocks led advances, although those in China, Hong Kong, and Australia also rose, as did European and US futures.

Traders’ predictions of the Fed ultimately swinging towards rate decreases have impacted trading across financial markets in recent days. The Dow Jones Industrial Average closed above 40,000 for the first time on Friday, and optimism about US easing led to an all-time high on Monday.

Investors are also keeping an eye on the Middle East after Iranian President Ebrahim Raisi was killed in a helicopter crash. President Raisi was considered a front-runner to succeed Supreme Leader Ayatollah Ali Khamenei, the Islamic Republic’s highest authority.