Asian Markets Firm on Rate Cut Speculations

Financial markets firmed in Asian amid expectations that the RBA would cut interest rates at the meeting tomorrow. The easing monetary policy is expected to boost Australia’s economic outlook. The MSCI Asia Pacific Index (excluding Japan) added +0.7% in the early trading session. Better than expected manufacturing confidence data in South Korea overshadowed worries over the sovereign debt crisis in the Eurozone. In the commodity sector, crude oil prices changed little with the front-month contract for WTI crude oil continued to trade below 105. Gold moved sideways.

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Asian Markets Firm on Rate Cut Speculations