Asian markets mixed in holiday-hit trade

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Asian markets were mixed in holiday-thinned trade Monday, while the dollar dropped as investors lowered their expectations for US interest rate hikes.

Tokyo was the standout performer, rallying more than one percent following a blockbuster performance on Wall Street, where all three main indexes enjoyed a strong end to last week thanks to a tech rally.

Comments from top Federal Reserve officials provided support to equities after they indicated the bank could lift rates at a much slower pace as inflation gradually comes down.

Meanwhile, Philadelphia Fed boss Patrick Harker again called for slower increases.—AFP