- An Asian stock index climbed as investors assessed China's new economic stimulus measures and awaited a critical speech on the future on monetary policy by Fed's Powell.
- The regional index rose nearly 0.5%, aided by advances in Japan. Due to a typhoon, morning trading in Hong Kong was cancelled. US futures rose following solid closes for the S&P 500 and Nasdaq 100.
- China increased stimulus by 1 trln yuan ($146 bln) for an economy beleaguered by property-sector troubles, Covid-linked mobility curbs, and certain power shortages. Early advances in mainland stocks were lost, showing doubt over whether the efforts were sufficient.
- The market's concern ahead of Fed Powell's remarks is if he will refute predictions that slower GDP will moderate monetary tightening in the next phase of the anti-inflation effort.
- Taiwan wants an additional t$108.3 bln in spending for fighter jets and other equipment on top of the proposed defence budget.
