Asia Stocks Rally as Gold Smashes Record Highs and IPO Frenzy Grips Markets
Gold hit a record high near $3,800/oz as the dollar weakened and haven demand rose. Hong Kong’s Hang Seng gained 0.8% and China’s CSI 300 edged up 0.2%, while Japan’s Nikkei rose 0.1%. Oil prices slipped after OPEC+ signaled higher output. Traders watched for a possible U.S. government shutdown that could delay key economic data.