Asian Stocks Soar as U.S. Dollar Falters Amid Fed Rate Cut Expectations

Asian stocks witnessed a rise on Friday, capping a strong August performance. The U.S. dollar is set for its worst monthly performance in nine months due to anticipated Federal Reserve interest rate cuts. Key inflation data from the U.S. and eurozone are expected to influence global rate outlooks.

Asian stocks surged on Friday, culminating in a robust end to August, while the U.S. dollar faced its worst monthly performance in nine months amid growing expectations of Federal Reserve rate cuts next month.

MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.77%, with U.S. stock futures also extending Wall Street's gains.

China's stock markets also saw significant recovery, while Japan's Nikkei index showed resilience following an earlier collapse caused by market volatility in August.

(With inputs from agencies.)