Asian Stocks Dip on Weak China PMIs, Nikkei Rises on Dovish BOJ; Investors Brace for Policy and Data Storm
Most Asian stocks declined due to weaker-than-expected business activity readings from China, with Chinese stocks sinking as PMI data showed economic weakness. The Nikkei, however, reversed early losses after the Bank of Japan maintained negative interest rates and made minimal changes to its yield curve control policy, signaling easy monetary conditions for the near future. Concerns over China offset a strong lead-in from Wall Street, and investors are awaiting the conclusion of a Federal Reserve meeting, which is expected to reiterate a higher-for-longer rate stance that could negatively impact Asian markets.
