Asian Markets Rally on US Rate Cut Hopes, Robust Chinese Data

Major Asian and Pacific stock markets posted gains Thursday, buoyed by optimism over a potential US Federal Reserve interest rate cut in September and surprisingly strong Chinese PMI data. Tokyo’s Nikkei closed 0.6% higher, while Hong Kong’s Hang Seng index advanced 0.5%. Mainland Chinese indices in Shenzhen and Shanghai also saw modest increases. Leading the region’s gains, Seoul surged 1.5% and Sydney climbed 1.2%. European stock futures pointed to a marginally positive opening later in the day.