Asian stocks climbed on Thursday as growing expectations of a US Federal Reserve interest rate cut next month lifted market sentiment, while the dollar softened and the yen stayed under close intervention watch. MSCI's Asia-Pacific index rose 0.4 per cent, set to break a three-week losing streak, and Japan's Nikkei jumped more than 1 per cent. Trading remained subdued due to the US Thanksgiving holiday, with European futures pointing to a muted open. Investors responded to renewed hopes of a December Fed cut after comments from senior officials, pushing rate-cut pricing to 85 per cent compared with 30 per cent a week earlier. The dollar index slipped to 99.431, while the euro and sterling hit multi-week highs. A holiday-shortened week kept moves limited across markets, but analysts said revived Fed expectations have eased fears of an AI-driven equity bubble that rattled markets earlier in November. China's property sector came under pressure after China Vanke sought approval to delay repayment of a 2 billion yuan onshore bond, dragging its bonds lower and sending China's real estate index to a one-year low. The yen strengthened to 156.12 per dollar as traders watched for possible intervention, with authorities signalling discomfort over its persistent decline. According to Reuters, the Bank of Japan is preparing markets for a potential rate hike as early as next month. Bitcoin climbed back above $90,000. Attribution: Reuters
