Stocks up on US rate hopes, yen holds gains amid intervention talk

- Photo: Reuters

SINGAPORE: Asian markets mostly rose Friday (July 12) after a largely negative day on Wall Street despite growing confidence of a US interest rate cut, while the yen saw big swings as speculation swirled that Japan had stepped into forex markets to support the currency.

A smaller-than-expected read on the June consumer price index ramped up bets on the Federal Reserve lowering borrowing costs in September, and possibly again before January.