Asia Markets Soar as Wall Street’s Major Indexes All Jump 2% to Welcome a Rate Cut!

Asia markets opened higher on June 5, 2019. As of 9:30 local time in Thailand, Nikkei jumped 1.80% to 20,775.32 points, SSEC added 0.40% to 2,873.79 points, HSI gained 0.97% to 27,020.48 points, ASX 200 edged 0.67% up or 6,375.10 points and KOSPI upped 0.51% or 2,077.50 points.

The surge in the morning session in Asia markets came after Wall Street posted a high jump overnight which was the second-best day of 2019. Dow Jones surged 512.40 points, or 2.1% to 25,332.18. The S&P 500 jumped 2.1% to 2,803.27 and the Nasdaq surged 2.7% to 7,527.12.

Global stock markets were in high spirit after U.S. Federal Reserve Chairman Jerome Powell signaled that the central bank was open to easing monetary policy to support the economy. In the statement, Powell said that the bank will act as appropriate to sustain the expansion. Even though he stated that the date of a rate cut is still uncertain, the markets jumped ahead to welcome this positive sentiment.