November 8, 2024 11:24 AM

Asian stocks climb on Wall Street’s lead; dollar sags after Fed cut

Asian stocks rose broadly on Friday (November 8), tracking Wall Street's overnight rise to record highs, as investors digested the Federal Reserve's message for careful interest rate cuts even with expectations for big fiscal spending under incoming President Donald Trump. Although the U.S. Federal Reserve's rate cut was expected, Trump's pro growth policies could be inflationary and slow down future cuts, Associate Professor of Finance at Melbourne's RMIT University Angel Zhong said. In Tokyo...