Asian stocks rise on diminished US rate hike expectations, Singapore's stock index hits record high

Odaily News: On Friday, most stock markets in emerging Asia rose, with Singapore's Straits Times Index hitting an all-time high. This followed remarks by Federal Reserve Governor Waller, after which investors scaled back bets on a Fed rate hike in September. The MSCI Emerging Asia Index gained 1.4%, poised for its best single-day performance in nearly seven trading sessions. The Straits Times Index climbed as much as 0.9% to a record high of 5,807.16, led by gains in blue-chip bank stocks. The index is up 1.9% for the week, on track for its best weekly performance since early July. Boosted by this momentum, the MSCI ASEAN Index rose to its highest level in nearly seven trading sessions, up 1% so far this week. (Jin Shi)