Asia Markets Await Bank of Japan Policy Meet and China LPR Focus
Asia-Pacific markets dipped at the start of the week after last week's rally following the US Federal Reserve's decision to hold rates. The Bank of Japan is expected to maintain its major policy settings, while China will release its loan prime rates. New Zealand's services sector recorded an expansion in November, but questions remain about its sustainability. Shares of SenseTime plunged after the death of its founder. Jefferies named its top global stocks for 2024, while UBS identified the "most crowded short" across all sectors. New York Federal Reserve President John Williams pushed back on market assumptions of rate cuts, and oil prices settled lower but rose slightly for the week. Stocks could see volatile trading as the S&P 500 and Nasdaq-100 rebalance their indexes, and Boeing is on track for its longest weekly winning streak since 2005.