Asian stocks track US gains in ‘Santa Claus rally’

News Snapshot:

Asian markets began higher on Wednesday, after Wall Street’s Christmas holiday gains, with investors expecting that the US Federal Reserve may slash interest rates as soon as March. Japan, Australia, and Hong Kong all saw gains, with the latter two returning after the Christmas market vacation. Since the Fed’s previous meeting, when it hinted that the rate-hike cycle may be reaching its conclusion and inflation may be slowing, market sentiment has been mainly upbeat. Global markets were also boosted by the so-called “Santa Claus rally,” which has typically seen equities rise – albeit at a slower pace – during the...