Asian Stocks Rise as Fed Meeting Week Begins
Most Asian stocks rose slightly as investors awaited central bank meetings this week, while Chinese shares plummeted due to continued signs of disinflation. Positive cues from Wall Street and stronger-than-expected US retail sales data provided some resilience to the world's largest economy, reducing expectations of early interest rate cuts by the Federal Reserve. Japan's Nikkei was the best performer, recovering from steep losses, while broader Asian markets were cautious due to concerns over China and upcoming central bank meetings. Chinese stocks hit four-year lows as disinflation persisted, indicating little pick-up in economic activity. Indian stocks are set to retreat from record highs after crossing the $4 trillion valuation mark, driven by optimism over the fastest-growing major economy and a crucial state election victory for the ruling BJP party.