Most Asian stocks rebounded with focus on Fed meeting for rate cuts; China lagged

From Investing: 2024-07-28 22:49:46

Most Asian stocks surged on Monday, with focus on the upcoming Federal Reserve meeting for clues on interest rate cuts. Tech sector led gains, but Chinese markets continued to lag amidst negative sentiment. US stock index futures rose on expectations of rate cuts. The Fed’s signals on rate cuts will be closely watched.

Tech-heavy Asian bourses continued to rebound, with Japan’s index up 2.2%. Investors pivoted into economically sensitive sectors on rate cut expectations. Tech stocks saw bargain buying, ahead of key earnings reports from US giants like Microsoft, Apple, and Meta Platforms. Positive sentiment in the tech sector continues.

Chinese indexes fell as fears of a slowing economic recovery persisted. Negative sentiment towards China, weak economic data, and US political uncertainty weighed on the markets. Focus is on key economic readings from China for more insights. Broader Asian markets rose, with Australia and Japan seeing gains. Positive sentiment expected for India’s index.



Read more at Investing: Asian stocks rebound with Fed, rate cuts in focus; China lags By Investing.com