Asia stocks have risen, buoyed by expectations of a US rate cut as early as next week, even as political upheavals around the world keep currency and bond investors on edge.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent in early trade, taking its cue from Wall Street's positive lead overnight that saw the Nasdaq notch a record-high close.

Nasdaq futures extended the rally from the cash session and were last up 0.06 per cent, while S&P 500 futures similarly ticked up 0.05 per cent.

Breathing new life into the equities rally were expectations the Federal Reserve will ease rates when it meets next week, following Friday's dismal US jobs report.

While consumer and producer price inflation data remain on deck in the week ahead, investors are betting a 25-basis

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