Asian markets showed cautious optimism as shares edged higher amid expectations of potential U.S. rate cuts. Investors are closely monitoring upcoming inflation data, which is anticipated to influence the Federal Reserve's monetary policy decisions. The Bank of Japan (BoJ) has issued warnings regarding possible interest rate hikes, adding a layer of complexity to the market outlook. The Sensex in India experienced a notable rally, gaining 600 points, while the Nifty index also saw significant increases. Overall, the sentiment in Asian markets is buoyed by discussions surrounding rate cuts from the Federal Reserve, despite underlying concerns related to geopolitical risks in the Middle East.