Following the broadly positive cues from Wall Street overnight, Asian stock markets are trading mostly higher on Friday, as traders reacted to the prospects of a rate cut by the US Fed early next year after some US data showing a drop in economic growth and an uptick in jobless claims. Asian markets ended mostly lower on Thursday.
Traders are likely to keep a close eye on US report on personal income and spending, which includes readings on inflation said to be preferred by the Fed that could influence the outlook on the Fed's monetary policy.
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