Asian shares advanced on Monday, tracking Wall Street’s rally after the head of the Federal Reserve hinted that cuts to interest rates may be on the way.
Fed chair Jerome Powell said Friday in a speech to an annual conference in Jackson Hole, Wyoming, that he's seen risks for the job market. A surprisingly weak report on job growth this month has led many traders to expect a rate cut as soon as the Fed's next meeting in September, after months of pressure from President Donald Trump for lower rates.
