Asian stocks rally amid Chinese hopes

Fed still expects to keep rates elevated

Most Asian bourses rallied on Thursday, with Chinese stocks the region’s best performer based on optimism over the mainland’s reopening and encouraging US jobs data, while investors shrugged off the Federal Reserve’s warning about interest rate hikes.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1% to touch a four-month high in morning trade. Hong Kong’s Hang Seng Index also jumped 0.9% amid speculation over an imminent border reopening with the mainland.

The Shanghai Shenzhen CSI 300 and Shanghai Composite indices rallied by 1.8% and 1.3%, respectively.

The Stock Exchange of Thailand (SET) closed lower on Thursday on profit-taking, following market consolidation on Wednesday. A strong baht and solid GDP outlook in the coming quarters bode well for foreign inflows and limit…