Hong Kong
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Asia-Pacific markets started the week higher after the president of the New York Federal Reserve signaled a third rate cut could come this year.
New York Federal Reserve President John Williams suggested on Friday that the Fed could lower its key interest rate from here because a weak labor market poses a greater economic threat than higher inflation.
There is only one Fed meeting left for 2025, which will take place on December 9-10 in the United States. The target rate is currently between 3.75% and 4.00%.
Fed funds futures currently price in about a 70% chance of a quarter-percentage-point drawdown, according to the CME FedWatch tool.
Last week, Asian markets fell across the board as traders fled technology stocks, with heavyweights like Softbank, Samsung Electronics and Baidu falling.
South Korea Kospi was up 1.13%, while small-cap Kosdaq reversed its gains and fell 0.41%. Samsung gained more than 4.1% at the start of the session.
Australia’s S&P/ASX 200 index was up 0.94%, rebounding from a 1.59% loss on Friday.
Monday, the actions of the logistics group Qube soared nearly 20% after Macquarie Asset Management made an A$11.6 billion ($7.49 billion) offer to acquire the company.
Mining giant BHP also rose about 0.4% after the company announced it was no longer considering a merger with British mining company Anglo American.
that of Hong Kong Hang Seng Index rose 1.06%, while mainland China’s CSI 300 index rose 0.16%.
Japanese markets are closed for a public holiday.
In the United States on Friday, all three major indexes recorded a rebound, with the Dow Jones Industrial Average gaining 1.08%, while the Nasdaq Composite rose 0.88% and the S&P 500 finished up 0.98%.
—CNBC’s Sean Conlon and Pia Singh contributed to this report.
