Asian shares set to snap two-year losing streak on rate cut wagers – Markets

SINGAPORE: Asian stocks took a breather on the last trading day of the year and are set to snap their two-year losing streak with investors buoyed by the expectations that the Federal Reserve will start cutting interest rates next year.

MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed on Friday but lurked near a five month peak and was headed for a 5% gain in the…