Asian stocks advanced following a rally on Wall Street after the Federal Reserve signaled it still sees room to cut interest rates later this year because any increase in inflation due to tariffs will be brief.
MSCI’s regional stock benchmark climbed to its highest level since early November as equities in Taiwan, Australia and South Korea all rallied.
US equity futures rose in Asia after the Financial Times reported Nvidia Corp. aims to spend several hundred billion dollars to procure US-made chips and electronics over the next four years.
Japanese markets are shut for a holiday. Australia’s dollar dropped after a report showed employment in the nation fell by 52,800 last month, compared with a forecast increase of 30,000.
Copper climbed above $10,000 a ton amid the threat of higher tariffs, while gold rose to another record.
Bloomberg’s gauge of the dollar edged lower, while cash Treasuries were shut in Asia due to the holiday in Japan.
