Asian stock markets gave up early gains on Friday as investor sentiment shifted towards the anticipated stimulus measures from China, coinciding with the conclusion of Beijing’s week-long legislative meeting.
The day began on a positive note, with regional equities mirroring Wall Street’s rally to record highs. Investors had been digesting the Federal Reserve’s cautious stance on interest rate cuts, signaling a more gradual approach despite expectations for future reductions. However, attention soon turned to the unfolding developments in China, where policymakers are expected to announce fresh economic stimulus to support growth.
As the focus shifted, market optimism waned, with stocks in key Asian markets cooling after initially tracking gains. Investors are closely watching China’s actions for signals of further efforts to stabilize the economy amid global uncertainties.
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