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Asia stocks climb as Fed hike bets ease, Singapore benchmark hits record
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News EditorAsian emerging-market shares rose on Friday after investors trimmed bets on a September rate hike by the Federal Reserve, following remarks from Fed Governor Christopher Waller. The MSCI Emerging Asia index gained 1.4% and was on track for its best single-day move in nearly seven trading sessions. In Singapore, the Straits Times Index briefly rose 0.9% to a record 5,807.16 points, led by blue-chip bank stocks. The index was up 1.9% for the week and headed for its strongest weekly performance since early July. The MSCI ASEAN index also climbed to a near seven-session high and was up 1% so far this week, according to Jinshi.
Asia stocksSingapore Straits Times IndexMSCI Emerging AsiaFederal Reserverate hike betsblue-chip banks
Asian emerging markets mostly advanced on Friday after investors scaled back bets on a September interest-rate hike by the Federal Reserve, following remarks from Fed Governor Christopher Waller.
The MSCI Emerging Asia index rose 1.4%, putting it on course for its strongest single-day gain in nearly seven trading sessions.
In Singapore, the Straits Times Index briefly climbed 0.9% to a record high of 5,807.16 points. Blue-chip bank stocks led the move. The benchmark was up 1.9% for the week and looked set for its best weekly performance since early July.
The MSCI ASEAN index also moved to a near seven-session high and was up 1% for the week so far, according to Jinshi.
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