Original title: Stocks Edge Up, Gold Hits Record on Rate-Cut Bets: Markets Wrap
Asian stocks posted a modest gain and gold reached a record high with traders positioning for an interest-rate cut by the Federal Reserve as early as this month. Shares in Japan and South Korea rebounded from their Monday losses while indexes in China and Hong Kong retreated. Oil drifted higher with attention on an upcoming OPEC+ meeting. The yen fell Bloomberg Terminal 0.3% against the dollar after Bank of Japan Deputy Governor Ryozo Himino ’s speech provided few clues on the future direction of interest rates.