Market Commentary - Foreign Markets
Asian stocks advanced on Monday after U.S. Treasury Secretary Scott Bessent said he is not worried about the recent market downturn and China announced plans featuring measures to boost wages and stabilize stock and real estate markets.
The U.S. dollar hovered close to a five-month low against its major peers as U.S. President Donald Trump reinforced his trade policy stance, saying there will be no exceptions to U.S. steel and aluminum tariffs.
Gold edged up slightly ahead of this week's highly anticipated monetary policy announcements by major central banks, including the Federal Reserve, the Bank of Japan and the Bank of England.
Crude oil prices extended gains following the U.S. military strikes on the Iran-backed Houthi militants.
China's Shanghai Composite index edged up by 0.19 percent to 3,426.13 before a briefing by officials on consumption plans.
Xinhua reported authorities will provide details on policies to stabilize the stock and real estate markets, lift wages and boost the nation's birth rate.
Hong Kong's Hang Seng index ended up 0.77 percent at 24,145.57 after China's industrial output and retail sales figures topped expectations.
However, unemployment rose and housing prices continued to fall in most major cities, muddying Beijing's drive to boost flagging consumption in the world's second-largest economy.
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