Shares rally as markets bet on more gradual rate hikes

By Kanupriya Kapoor SINGAPORE (Reuters) – Asian stocks took their cue on Friday from a late rally on Wall Street, as markets focused on a possible slowdown in the pace of rate hikes rather than a U.S. recession after data showed its economy shrinking for a second straight quarter. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.41%. Japan’s Nikkei share average opened up 0.36%, while the Seoul index and Australia’s index opened up 0.75% and 0.76% respectively. Economists are debating whether the world’s biggest economy is already in or on the verge of a recession, as it battl…

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