- Asian markets rose across the board following upbeat Chinese markets.
- Chinese property shares boost on expectations of additional government stimulus measures.
- PBoC injected around 80 billion Yuan of liquidity into the markets.
- Australia's ASX 200 rose on improved commodity stocks ahead of RBA’s meeting minutes.
Asian shares saw gains on Monday, buoyed by a rebound in Chinese markets driven by expectations of additional government stimulus measures. The People's Bank of China (PBoC) injected around 80 billion Yuan of liquidity into the markets.
As of now, China's SSE Composite Index is showing a gain of 0.54% at 3,070, while the Shenzhen Component Index has improved by 0.63% to 10,042. Japan’s Nikkei 225 has risen to 33,403, up by 0.54%. Hong Kong’s Hang Seng is at 17,716, and the Korean KOSPI has risen to 2,495. However, Taiwan's Weighted Index has dipped by 0.13% to 17,185.
Despite the positive momentum, gains were limited as investors awaited the Federal Open Market Committee (FOMC) minutes scheduled for Tuesday. The minutes are anticipated to offer insights into the Fed's stance on inflationary pressure and its approach to monetary policy.
Chinese stocks experienced a boost from a rebound in property stocks, following regulators' commitment to providing more policy support to the struggling real estate sector. Moreover, the interest rate decision in China, with the PBoC keeping its loan prime rate at 3.45%, provided few cues to the markets.
Australia's ASX 200 showed a 0.13% rise, with support from strength in commodity stocks. The focus shifted to the Reserve Bank of Australia's (RBA) November meeting minutes for additional insights into monetary policy.
Japan's Nikkei 225 remained flat post reaching near highs since 1990, fueled by strong earnings and foreign investors attracted by the Bank of Japan's dovish stance and asset control measures.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.