NEWS: The Fed's Interest Rate Reduction Vision Supports Asian Stock Markets

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Asian stocks rose on Thursday, following U.S. stock market gains as the latest data showed a slowdown in U.S. economic growth, strengthening the possibility that the Federal Reserve could cut interest rates as soon as this month.
The MSCI Asia-Pacific (except Japan) index rose 0.3%, Japan's Nikkei Index. N225 and Australia's major stock indexes rose 0.3% and 0.5%, respectively, but the U.S. was on a public holiday on Thursday, making market activity slightly light.
U.S. stocks closed half a day early for National Day celebrations Wednesday, with all three major stock indices closing at record highs as expectations of the Federal Reserve's easing policy warmed.
In June, ADP private employment increased by 102,000 jobs, less than analysts predicted, raising concerns that the U.S. employment market is slowing down, despite the fact that the current expansion of the U.S. economy wrote a new record last month.
"Stocks and bonds have risen as markets bet on interest rate cuts by the European Central Bank and the Federal Reserve," said Noriko Miyoshi, head of fixed income at Simplex Asset Management in Tokyo.


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