India, May 7 -- Asian stocks advanced on Tuesday amid expectations that the U.S. Federal Reserve will start cutting interest rates later this year.
The yen was under pressure, helping lift Japanese markets to a three-week high. The Aussie dollar slipped and bonds rallied as the Reserve Bank of Australia held interest rates steady as widely expected and sounded less hawkish on the policy outlook than many had feared.
In China, data showed the country recorded high tourism figures during the Labour Day holiday, beating pre-pandemic levels.
Shenzhen and Wuhan have further eased home purchase restrictions to boost sales as the property market slump continued over the May Day public holiday.
Gold slipped in Asian trading following hawkish co...