Asian Markets Climb on Fed Rate Hike Optimism

Asian stock markets saw gains on Monday, marking the start of a critical week for U.S. economic reports. Investors are feeling more optimistic as concerns about inflation ease, lowering the chances of another interest rate hike by the Federal Reserve.

Japan’s Nikkei 225 surged 2.5% in early trading, reaching 70,037.61, a level not seen in three months. Meanwhile, Australia’s S&P/ASX 200 rose slightly by 0.1% to 8,691.90, while Hong Kong’s Hang Seng remained unchanged at 23,971.55. Trading was halted in Shanghai and South Korea due to national holidays.

Shares tied to artificial intelligence also attracted attention. In Japan, Tokyo Electron saw a notable increase of 5.5%.