Asian stock markets are trading mostly higher on Monday, following the broadly positive cues from Wall Street on Friday, as traders remained optimistic the US Fed will slow the pace of interest rate hikes in the coming months. Technology stocks boosted the markets following solid earnings news from some of their peers on Nasdaq. Asian markets closed mostly lower on Friday.
A US Commerce Department report showing core consumer price growth accelerated less than expected in September may encourage the Fed to slow the pace of its interest rate hikes. The Fed's monetary policy decision is likely to be in the spotlight later in the week and the accompanying statements will likely provide more clues about the pace of tightening in the upcoming months.
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