Asia Stocks at Highest Since 2022 on Fed Signals – Asia Market Wrap

Asian equities rose to their highest level in almost two years after the Federal Reserve signalled that it may lower interest rates three times this year, despite rising inflation.

A barometer of Asian equities soared to a level not seen since April 2022, boosted by advances in tech businesses listed in Hong Kong and South Korea following Micron Technology’s robust revenue estimate indicating artificial intelligence-driven demand.

Broader benchmarks climbed from Australia to Japan, with the Nikkei 225 poised for a new closing high as the country’s exports increased for the third straight month. Mainland Chinese equities varied after initial advances.

Treasuries remained flat in Asian trade after Wednesday’s rally on rising anticipation that the Fed will lower rates as early as June. The dollar suffered more losses, as the yen strengthened for the first time in eight days.