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Asia markets mostly higher as Fed's Powell signals rate cuts are on the horizon

·1 min

Asia-Pacific markets saw gains after comments from the U.S. Federal Reserve Chair hinted at potential interest rate cuts. In Japan, the Nikkei 225 traded near the flatline, while South Korea’s Kospi climbed. Australia’s S&P/ASX 200 was on track for a third straight day of gains. Futures for Hong Kong’s Hang Seng index pointed to a stronger open. In the U.S., the S&P 500 and Nasdaq Composite reached record highs. Japan reported a decline in household spending for the 11th consecutive month. Oil prices edged lower as the market considered the interest rate outlook.