"Asia's Stock Markets Rise on Optimism for Rate Cuts and Strong Earnings"

Asian shares continued to rally for a fourth consecutive session as markets priced in earlier rate cuts in the US and Europe. Battered bond markets also saw a recovery as a benign US payrolls report and upbeat productivity numbers suggested a cooling labor market, reducing the need for further rate increases from the Federal Reserve. Futures markets indicate a high probability of rate cuts by the Fed, European Central Bank, and Bank of England. Central bank speakers, including Fed Chair Jerome Powell, will provide further insight into this dovish outlook. Meanwhile, Australia's central bank is expected to resume raising rates, and the Bank of Japan is gradually tightening policy. Lower borrowing costs boosted MSCI's Asia-Pacific shares, while Treasury yields and the dollar retreated. Oil prices edged higher, and Israel rejected calls for a ceasefire in Gaza.