Asian Stocks Rise Ahead of Warsh's Jackson Hole Speech

Asian stock markets rose Friday ahead of Federal Reserve boss Kevin Warsh's speech at Jackson Hole, which investors hope will provide insight into policymakers' thinking on interest rates.

The attention is back on the economy as debate surrounds whether or not the US central bank will tighten monetary policy. Last month's Fed meeting saw policymakers keep borrowing costs on hold but with three of them dissenting in favor of a hike, and while the latest figures showed inflation easing slightly it remains well above the 2% target.

Warsh's speech is seen as crucial, especially since his last major public appearance after the July meeting was widely panned for giving an ambiguous message. Stephen Innes at Quintex Intel said the address is 'the most consequential central bank speech left this year', and comes almost three weeks before the next policy announcement.

Asian equity markets were broadly higher in early trade, with tech firms struggling to extend Thursday's rally that came on the back of Nvidia's profit blowout and bumper forecast. Oil prices edged down but remain in danger of spiking further as investors await a breakthrough in efforts to reopen the Strait of Hormuz.