Asian stocks rise after US inflation backs Fed cut

December 12, 2024

Australian and Japanese equities climbed while Hong Kong futures were steady. The S&P 500 rose 0.8% and the Nasdaq 100 advanced 1.9% to a new high Wednesday, with the strong showing for tech pushing Amazon.com Inc and Meta Platforms Inc. to fresh records. Broadcom Inc. rose 6.6% following a report that the chipmaker was working on an AI deal with Apple Inc.

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