Asian stocks rise cautiously before PCE data, Chinese markets advance with hopes of stimulus

From Investing.com: 2024-05-30 22:52:23

Most Asian stocks rose slightly, focusing on upcoming U.S. PCE inflation data. Chinese markets advanced with hopes of more stimulus. U.S. stock index futures fell as soft data raised concerns about economic growth. Focus is on inflation data as a cue for interest rates. Anticipation of data limited major gains.

Chinese stocks rise despite weak PMI data, stimulus hopes increase. The and indexes rose, but PMI data showed a contraction in May. Hopes rise for more policy support as earlier stimulus measures wear off. Chinese stocks set for flat May finish after rebound stall. Hong Kong stocks surge, led by heavyweight technology stocks.

Asian stocks drift higher but face middling May performance. Japan’s index rises, but set for flat May performance below record highs. South Korea’s rises but may lose nearly 2% in May due to chipmaking stock rout. Australia’s rises amid concerns of cooling economy. India’s Nifty futures point to mild gains, with concerns over the general election.

Overall, Asian markets are cautiously optimistic, with attention on key economic data and stimulus measures to drive growth. Markets in China and Hong Kong show resilience, while other markets struggle with inflation fears and economic headwinds. Investors remain watchful of global economic trends and upcoming political events.



Read more at Investing.com: Asian stocks drift higher before PCE data; Weak China PMIs spur stimulus hopes By Investing.com