- As traders awaited a slew of economic data over the next few days for clues on the outlook for global central bank policies, Asian stocks advanced, with Chinese equities outperforming.
- An Asian equity gauge closed at its highest level in two weeks, helped by gains in the region's major indexes. The Hang Seng Index rose 2%, extending its gain into a second day. The Hang Seng China Enterprises Index rose 2.3%, outperforming the rest of the world. Following the S&P 500's first back-to-back gains in August, US futures remained stable.
- According to the official Xinhua News Agency, China's Finance Minister Liu and NDRC Chairman Zheng pledged Monday to strengthen policy support and accelerate government spending. Nonetheless, investors will continue to look for signs of additional Chinese government support measures. Most of the gains in the country's stocks on Monday, fueled by a slew of market-stimulating measures, had faded by the end of the session, and foreign funds continued what was set to be a record outflow this month.
- In July, Japan's unemployment rate rose for the first time in four months, sending a slightly negative signal to the country's central bank and government.
- Strategists at Goldman Sachs expect the yen to depreciate to levels last seen more than 30 years ago if the Bank of Japan sticks to its dovish stance.
