Asia Joins Record Global Stock Rally Before Fed: Markets Wrap

Asian stocks headed for a record close, in line with a global rally in equities, as investors looked ahead to a potential interest-rate cut by the Federal Reserve.

The MSCI Asia Pacific Index rose as much as 0.2% to trade above an all-time high close reached in February 2021. A global index of equities held steady after closing at its highest level Friday. There will be no cash trading in Treasuries during Asian hours as Japan is closed for a holiday. Chinese shares rose almost 1%, shrugging off weak factory and consumer data.

The Hong Kong dollar extended its ...