Asian stocks are expected to rise following the S&P 500's record close above 5,500, driven by optimism over potential Federal Reserve rate cuts and Jerome Powell's remarks on disinflation. Asia-Pacific markets, including the ASX 200, Nikkei 225, and KOSPI, have taken impetus from gains on Wall Street, where both the S&P 500 and Nasdaq posted record closes amid softer yields and dovish-leaning comments from Fed Chair Powell. The positive sentiment is bolstered by weak data leading to softened yields and a weaker dollar, as well as the expectation of rate cuts. As a result, the ASX 200 rose by 1.1%, the Nikkei 225 by 0.4%, and the KOSPI by 1.0%. The gains come as Japan tests record highs and markets head into US Independence Day.