Core Viewpoint - The dovish guidance from Federal Reserve Chairman Jerome Powell may exacerbate the weakness of the US dollar, potentially boosting Asian stock markets [1] Group 1: Market Dynamics - The strong performance of Asian stock markets this year has primarily been driven by local capital [1] - A renewed decline in the US dollar could stimulate capital flows from the US to emerging markets in search of diversified allocations [1] Group 2: Earnings Outlook - Analysts note that improvements in fundamentals and earnings have significantly contributed to the recent strength of Asian stock markets [1] - Due to trade agreements, earnings expectations for most Asian markets have been notably revised upward for the coming year [1] Group 3: Risks - If the Federal Reserve's dot plot indicates that the median interest rate forecast for 2026 remains unchanged, or if Powell downplays the prospect of rate cuts, this could pose a major risk for Asian markets [1]