Asia-Pacific markets were mixed Monday after New York Federal Reserve President John Williams signaled a third rate cut was a possibility this year.
On Friday, Williams suggested the Fed could lower its key interest rate as labor market weakness poses a bigger economic threat than higher inflation.
The Fed has just one meeting left for 2025, which will take place on Dec. 9-10 stateside. The target rate is currently at 3.75% to 4.00%.
Fed funds futures are pricing in around a 70% chance for a quarter-percentage-point cut, according to the CME FedWatch tool, up from about 44% during the week through Nov. 14.
Asian markets declined across the board last week as traders fled tech stocks, with heavyweights such as SoftBank, Samsung Electronics, and Baidu posting losses.
Hong Kong’s Hang Seng index
South Korea’s markets turned negative after rising earlier in the session. The Kospi
Australia’s S&P/ASX 200 rose 1.29% to 8,525.1, rebounding from a 1.59% loss on Friday.
On Monday, shares of logistics group Qubemade an offer of 11.6 billion Australian dollars ($7.49 billion) to acquire the firm.
Mining giant BHPno longer considering a merger with British miner Anglo American.
India’s Nifty 50 and the BSE Sensex were trading flat as of 2 p.m. local time.
Japan’s markets were closed for a public holiday.
On Friday in the U.S., all three major indexes posted a rebound, with the Dow Jones Industrial Average gaining 1.08%, the Nasdaq Composite advancing 0.88%, and the S&P 500 finishing 0.98% higher.
—CNBC’s Sean Conlon and Pia Singh contributed to this report.
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