Asian stock markets are trading mostly higher on Monday, following the mixed cues from Wall Street on Friday, after recent economic data has generated optimism about an interest rate cut in the coming months, but comments from US Fed officials have put a damper on some of the cheer. Announcement of fresh stimulus measures in China also boosted commodity prices. Asian markets closed mixed on Friday.
Three top Fed officials urged patience on rate cuts until its clear inflation is moderating back to the 2 percent target. Nonetheless, CME Group's FedWatch Tool is still indicating an 83.6 percent chance interest rates will be a quarter point lower by September.
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