Asia stocks ride global momentum, dollar up on June Fed rate hike bets

Asian Market 1Asian stocks followed global indexes higher on Wednesday, as strong earnings and manufacturing data boosted risk appetite, while expectations that the Federal Reserve will signal a June rate increase later in the session lifted the dollar.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1 percent early on Wednesday, within a hair of a near-two-year high hit on Tuesday.

Hong Kong and South Korea are closed for the Buddha’s birthday, and Japan is shut for the rest of the week for the Golden Week holiday.

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