Most Asian stocks rise with China support for property sector; FX steady.

From Barchart: 2024-05-20 01:29:07

Most Asian stock markets rose on Monday as China announced measures to support its property sector. Chinese stocks hit an 8-month high, Malaysian stocks reached a 3-year high, and Indonesian stocks rose ahead of a rate decision. Analysts expect more policy support to come for China’s property market. Currency values remain steady as markets await further economic data. Thailand lowered its growth forecast despite a strong first quarter. Market highlights include pressure on the BOJ to hike rates and Indonesia’s widening current account deficit. In Southeast Asia, Malaysia and Indonesia saw the biggest gains in the stock market. Malaysia’s central bank is expected to keep interest rates steady, while Indonesia may face a widening current account deficit. Overall, emerging Asian currencies and stock markets have remained steady as investors await further economic data and policy decisions.



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