"China's Stimulus Boost Propels Asian Stocks to New Highs"

Most Asian stocks rose as Chinese markets extended a rebound on news of more monetary stimulus measures, while Japanese shares lagged due to mixed cues from the Bank of Japan. Chinese stocks led gains after a cut in the reserve requirement ratio (RRR) for local banks, signaling more liquidity to be injected into the economy. Hong Kong's gains were stymied by losses in electric vehicle stocks following disappointing fourth-quarter earnings from Tesla. Bigger gains outside China were restrained by caution ahead of U.S. data and the Federal Reserve meeting, while Japan saw more profit-taking after the Bank of Japan signaled a potential pivot away from its ultra-dovish policy.