Asian Stocks Rise with Yen as Fed Rate-Hike Odds Eased

Asian stocks and currencies rose on September 3-4 as investors trimmed bets on a Federal Reserve interest-rate hike this month.

The MSCI's Asia Pacific equities gauge climbed 0.6%, fueled by comments from Fed Governor Christopher Waller that he would support keeping rates steady if price pressures continued to ease.

Swaps priced roughly even odds of a quarter-point hike in September, down from about 70% earlier this week, indicating easing expectations for a rate increase.

The yen strengthened as investors turned away from the dollar, which had benefited from higher interest rates.