Struggle in Asian markets, focus on China’s wealth support

Most Asian markets fell on Friday after a broadly healthy week, with traders hoping for new Chinese steps to help the country’s troubled property sector after authorities called on banks to provide support.

Wall Street was closed for the Thanksgiving break, meaning investors were given few catalysts to boost buying, while oil remained in focus as prices slid following OPEC’s decision to delay a key meeting. Was in.

Equities have rallied in recent weeks on optimism that the Federal Reserve will not raise interest rates again this cycle as inflation is heading south and the economy is showing signs of slowing without sparking recession concerns. .

And while the minutes of the bank’s most recent policy meeting echoed decision makers’ warning that borrowing costs will remain high for some time, they are expected to cut in 2024.

However, many markets in Asia fell on Friday, with traders heaving a sigh of relief.

Source: biz.crast.net