Asian stocks rise as US rate hopes soothe nerves after torrid week

Asian markets mostly rose Monday as fresh hopes for a US interest rate cut provided some calm after last week's rollercoaster ride fuelled by worries of a tech bubble.

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The scramble to snap up all things AI has helped propel equities skywards this year, pushing several companies to records -- with chip titan Nvidia last month becoming the first to top $5 trillion.

But investors have grown increasingly fearful that the vast sums pumped into the sector may have been overdone and could take some time to see profits realised, leading to warnings of a possible market correction.

That has been compounded in recent weeks by falling expectations the Federal Reserve will cut rates for a third successive time next month a stubbornly high inflation overshadows weakness in the labour market.