'Tight-framed rally' theme in global markets

With expectations of a US interest rate cut this year being pushed back, optimistic analysts say the growth theme will lift stocks. Asian stocks started the week higher after US indices recorded their best weekly rally of 2024. Hong Kong and Chinese markets led the rally, with the Hang Seng index trading close to a bull market. US stock futures started the week positively after gaining more than 1 percent on Friday. S&P 500 futures are up. The dollar is falling against developed country currencies. The Bloomberg Dollar Index is down 0.3 percent at 1,260 points. US bonds were not traded as Japanese markets were closed. Oil prices are falling slightly as US Secretary of State Antony Blinken visits the Middle East in a final Gaza ceasefire bid.