Asia Shares Set for Solid Monthly Gain, Dollar Slumps on Growing US Rate Cut Bets

ASIAN MARKET - SINGAPORE. Asian stocks rose on Friday and were poised for a solid end to August while the dollar was staring at its worst monthly performance in nine months, on the view that the Federal Reserve is all but certain to cut interest rates next month.

The release of the U.S. core personal consumption expenditures (PCE) price index, the Fed's preferred measure of inflation, as well as a reading on euro zone inflation later on Friday take centre stage, and would likely offer further clues on the rate outlook across major economies.