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Asia stocks inch higher as China rebounds, dollar firm

February 5, 2024


Asian shares edged up on Tuesday thanks to a bounce in battered Chinese markets, although investors were cautious after a slide on Wall Street amid diminishing expectations of a near-term Federal Reserve rate cut, which in turn underpinned the dollar.

Oil prices held largely steady as traders took stock of a visit to the Middle East by U.S. Secretary of State Antony Blinken to discuss a ceasefire offer in the region.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3%, after a 0.7% decline from the previous session.