Asian Markets Rise on Fed Shift, Nvidia in Focus

Chinese shares led Asia higher Monday as investors bet on U.S. rate cuts and awaited Nvidia’s earnings. Futures now price an 84% chance of a September cut, pushing Treasury yields and the dollar lower.

MSCI Asia ex-Japan gained 1.5%, with Chinese blue chips up 1.4% to their highest since mid-2022. Japan’s Nikkei rose 0.4% and Korea’s KOSPI 1.1%.

Attention now turns to Nvidia’s results Wednesday, with options pricing a 6% swing in its $4 trillion stock. Oil and gold firmed as the dollar eased, while markets brace for U.S. inflation data later this week.