• Equities in Asia were primed for gains Thursday after Jerome Powell reaffirmed his view the Federal Reserve will likely cut rates this year.
  • Shares in Australia and stock futures for Japan rose. Contracts for Hong Kong equities also drifted higher, although the market will be closed Thursday for a holiday along with mainland China and Taiwan.
  • US stocks staged a late-session rally to end higher. The S&P 500 index rose 0.1%, while the tech-heavy Nasdaq 100 index gained 0.2%.
  • Treasuries also showed fresh vigor during US trading, reversing early selling to end mainly higher following a minor rally tilted toward the front end of the curve. Australian and New Zealand yields were little changed.