The sails of the Opera House are illuminated by projections during the opening night of Vivid Sydney 2023 on Friday, May 26, 2023, in Sydney, Australia.
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Wall Street stocks rose overnight on expectations that the Federal Reserve will cut interest rates, and Asia-Pacific markets are expected to extend the previous day’s gains.
In Asia, investors awaited an interest rate decision from the Reserve Bank of Australia at the end of its two-day monetary policy meeting. Economists polled by Reuters expect the Reserve Bank of Australia to keep its benchmark lending rate at 4.35% for the fourth consecutive meeting.
Australian S&P/ASX 200 Index It edged up 0.23% ahead of the decision and was expected to post a fourth straight day of gains.
Korean Cospi Trading resumed after the public holiday, with the Kosdaq up 1.6% and the small-cap Kosdaq up 1.08%.
Japan’s Nikkei 225 Index Trading resumed after the holiday and rose 0.96%, while the Topix rose 0.61%.
However, Hong Kong’s Hang Seng Index futures were quoted at 18,541 points, a slightly weaker opening than the Hang Seng Index’s closing point of 18,578.3 points.
Overnight in the United States, announcement Hamas also boosted stocks on Monday after it said the group had accepted an Egypt-Qadda ceasefire proposal to end its war with Israel. Dow Jones Industrial Average It rose for the fourth consecutive trading day, rising 0.46%.
this S&P 500 Index rose 1.03%, while Nasdaq Index up 1.19%.
—CNBC’s Brian Evans and Jesse Pound contributed to this report.
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