Asia-Pacific markets were set to climb on Monday to kick-start a week packed with economic data from across the region.
This market rally should continue at least in the short term, according to Tom Lee, head of research at Fundstrat Global Advisors. The 30-stock index rose 134.21 points, or 0.34%, to settle at 40,003.59. The benchmark had first crossed over the 40,000 mark for the first time on Thursday morning.Softer economic data in recent weeks bolsters the argument that investors may finally receive some much-anticipated rate cuts in 2024, UBS argued in a Friday note.
UBS added that price pressures have also been easing in recent months in categories such as shelter, which should help bring down overall inflation.Stocks will experience near-term choppiness followed by a late-year rally, Wells Fargo says