Asian shares advance after Wall Street gets a lift from hopes for a Fed rate cut

BANGKOK AP Asian shares mostly gained on Tuesday after U S stocks rallied on hopes the Federal Reserve will cut interest rates soon U S futures edged lower and oil prices also declined Tokyo s Nikkei was nearly unchanged at after reopening from a holiday A plunge in device giant SoftBank s shares weighed on the region It fell on concerns that returns from its heavy investments in OpenAI may be threatened by the next generation Gemini artificial intelligenc e model that Google launched last week In South Korea the Kospi gained to Taiwan s Taiex jumped Chinese markets also advanced In Hong Kong the Hang Seng climbed to while the Shanghai Composite index jumped to E-commerce giant Alibaba which was due to statement its earnings late Tuesday gained Australia s S P ASX rebounded to edge higher closing at U S markets will be closed on Thursday for the Thanksgiving holiday A day later it s on to the rush of Black Friday and Cyber Monday The U S stock sector rallied on Monday at the start of a week with shortened trading because of the Thanksgiving holiday The S P climbed to in one of its best days since the summer The Dow Jones Industrial Average rose to and the Nasdaq composite jumped to Stocks got a lift from rising hopes that the Fed will cut its main interest rate again at its next meeting in December a move that could boost the economic system and outlay prices The arena also benefited from strength for stocks caught up in the artificial-intelligence frenzy Alphabet which has been getting praise for its newest Gemini AI model rallied and was one of the strongest forces lifting the S P Nvidia rose Monday s gains followed sharp swings in current weeks not just day to day but also hour to hour caused by uncertainty about what the Fed will do with interest rates and whether too much money is pouring into AI and creating a bubble All the worries are creating the biggest test for investors since an April sell-off when President Donald Trump shocked the world with his Liberation Day tariffs Despite all the up-to-date fear the S P remains within of its record set last month Several tests for the arena lie ahead this week One of the biggest will arrive Tuesday when the U S regime will deliver facts on inflation at the wholesale level in September Economists expect it to show a rise in prices from a year earlier the same as in August A higher-than-expected reading could deter the Fed from cutting its main interest rate in December for a third time this year because lower rates can worsen inflation Specific Fed functionaries have already argued against a December cut in part because inflation has stubbornly remained above their target Traders are nevertheless betting on a nearly probability that the Fed will cut rates next month up from on Friday and from less than a coin flip s chance seen a week ago according to statistics from CME Group In other dealings early Tuesday U S benchmark crude oil lost cents to per barrel Brent crude the international standard shed cents to per barrel The dollar fell to Japanese yen from yen The euro slipped to from Bitcoin fell to It was near last month Source