(Bloomberg) — Asian stocks rose as traders bet that China’s latest property stimulus measures will aid the economy and data suggested that US interest rates may be approaching a peak.
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Hong Kong benchmark indexes outperformed the region as investors resumed trading after a closure on Friday. Real estate stocks extended their advance, with China’s property shares gauge rising above 5% on stimulus measures taken to bolster the sector. Other major indexes also gained, putting a regional equity benchmark on track for its highest close since mid-August.
Futures for US equities steadied after the S&P 500 Index had its best week since June last week. Expectations that supply cuts by OPEC+ leaders will tighten the market sent West Texas Intermediate crude to its eighth straight day of advance and heading for the highest close since November. Brent also rose, moving toward $90. US markets are shut Monday for the Labor Day holiday.
The Chinese government last week…
2023-09-03 22:03:28
Original from finance.yahoo.com
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