Asia stocks rise as weak US data boosts Fed rate-cut bets

A woman walks past an electronic screen displaying the stock index prices of Asian countries outside a brokerage in Tokyo, Japan April 24, 2025. REUTERS/Issei Kato

SINGAPORE: Asian stocks rose on Wednesday, chasing gains on Wall Street as weaker-than-expected economic data spurred expectations that the Federal Reserve will cut interest rates at its policy meeting next month.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 1%, after U.S. stocks ended the previous session with mild gains. Japan's Nikkei stock index tacked on 1.8%, while U.S. stock futures edged up 0.2%.