Asian markets kicked off the week with a rally on Monday, tracking gains made by Wall Street on Friday after the US central bank chief suggested coming interest rate cuts.

Investors weighing the prospects of a September reduction had been closely eyeing the speech by Federal Reserve Chair Jerome Powell at an annual symposium in Jackson Hole, Wyoming.

“The balance of risks appears to be shifting,” Powell said, noting a slump in employment even as inflation remains above target.

He added that the “unusual” situation “may warrant adjusting our policy stance”.

Wall Street stocks surged following Powell’s speech, rebounding from a tech sell-off earlier in the week. European markets also ticked upwards.

During the first trading sessions in major Asian markets following the comments, stocks

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