Asian Stocks Follow U.S. Equity Rebound on Dovish Fed Comments
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Chances of a September hike in U.S. interest rates diminish
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S&P 500 Index stages its steepest reversal since July
Asian stocks rose, following the steepest rebound in U.S. shares since July, after Federal Reserve policy maker Lael Brainard’s continuing dovish tone in her approach to tighter U.S. monetary policy boosted appetite for risk assets.
The MSCI Asia Pacific Index gained 0.5 percent to 138.37 as of 9:06 a.m. in Tokyo, recouping some of Monday’s biggest losses since June. The S&P 500 Index added 1.5 percent after Brainard said she sees no reason to rush to raise rates because right now there seems little need to lean against an overshoot of inflation or employment. Her views follow the Fed’s Eric Rosengren, who said last week that the economy could overheat if they waited too long to raise interest rates, spurring a global rout in equities…
Asian Stocks Follow U.S. Equity Rebound on Dovish Fed Comments
