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Asian markets gain, investors anxious for U.S. rate hike clues

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HONG KONG — Asian share markets were broadly positive while the dollar was slightly weaker on Thursday, with investors nervously awaiting the U.S. Federal Reserve’s annual Jackson Hole conference for clues on how sharp future interest rate hikes might be.

MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.3%, after U.S. stocks ended the previous session with mild gains.

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Australian shares climbed 0.7%, while Japan’s Nikkei stock index rose 0.52% and China’s CSI300 advanced 0.27%.

The Federal Reserve’s annual monetary policy conference in Jackson Hole, Wyoming is due to start on Friday.

Investors now expect the Fed Funds rate to peak at 3.80% in March 2023, up from 3.62% a fortnight ago, said Tapas Strickland, NAB’s economics director.

“Market moves at least are consistent with the hawkish pushback seen by Fed officials over recent weeks,” he added.

Interest rate futures imply a 60% chance of a 75 basis point Fed hike in September



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