Global Markets Rally as Asian Stocks Surge and Wall Street Snaps Losing Streak

Asian stocks surged as investors bet on the Federal Reserve nearing the end of its rate hike cycle for the year and anticipated more stimulus measures from China. Weak economic data from China increased expectations of additional stimulus, while comments from Fed officials suggested limited room for further rate hikes. Asian technology stocks, including Baidu, Alibaba, and Tencent, rallied on hopes of a Fed pause and easing Chinese regulatory scrutiny. Chinese real estate stocks also rose after the People's Bank of China extended policy support for the sector. Broader Asian markets were positive, with focus now shifting to key US data and upcoming Fed speakers.