Rate cut bets boost stocks as Bitcoin stalks $100,000
Asian stocks were mixed on Thursday in the wake of record peaks on Wall Street as a softer read on U.S. services data boosted investor confidence in the Fed lowering interest rates.
The S&P 500, Nasdaq and Dow all notched record highs overnight and bitcoin, at times a barometer of the mood, was back within a whisker of $100,000.
Over the past week and a half markets have all but priced in an extra U.S. rate cut for 2025 and the implied chance of a cut in December has lifted from even to around 75%.
MSCI's broadest index of Asia-Pacific shares outside Japan was slightly lower in early trade as selling in Hong Kong offset gains in Australia and Japan. Japan's Nikkei rose about 0.6% to hit a three-week high. [.T][.HK]
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View Details» Hong Kong's Hang Seng fell around 0.8%.
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