Asian stocks strengthen

HONG KONG, Oct 5 (Reuters): Asian stocks rose on Wednesday as investors grew hopeful future global interest rate rises might become less aggressive amid early signs previous policy tightening was working to temper price pressures in some major world economies.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 2.3 per cent, after US stocks ended the previous session with gains. The index is up 1.4 per cent so far this month.
Australian shares were up 1.66 per cent, while Japan's Nikkei stock index climbed 0.39 per cent.
Hong Kong's Hang Seng Index gained 5.38 per cent, pushed higher by a 7 per cent lift in tech stocks. Mainland Chinese markets remain closed for holidays.
Investors are closely awaiting a crucial supply decision from OPEC+ due later Wednesday which could have global implications for already high energy prices and inflation.
After making strong gains the previous day, US crude dipped 0.35 per cent to $86.22 a barrel while Brent crude fell 0.29 per cent $91.58 per barrel.
OPEC+, which includes Russia and Saudi Arabia, could cut between 1 and 2 million barrels a day, according to a Reuters report earlier Wednesday.
The positive tone in Asian equities on Wednesday could prove to be short-lived though.