Asia shares rally as rate cut bets gather pace, ECB in focus

Singapore, June 6 (BNA):  Asian shares gained on Thursday on rising expectations the U.S. Federal Reserve will likely cut interest rates in September, while the euro firmed ahead of the European Central Bank policy meeting where a rate cut is widely expected.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.28%.  The index was on course for a 2.8% gain in the week and is set to snap its two-week losing streak, Reuters reported.

 

The exuberance in markets looked set to continue in Europe, futures indicated.  Eurostoxx 50 futures was 0.46% firmer and FTSE futures rose 0.27% ahead of the ECB policy meeting later in the day.

M.I.