Asian stocks slide as China stimulus disappoints; bitcoin extends record rally

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The Star 1w ago

Asian stocks slide as China stimulus disappoints; bitcoin extends record rally - The Star

Quick Summary:

TOKYO: Hong Kong stocks led declines in Asia on Monday after Beijing's latest stimulus fell short of investor expectations, overshadowing Wall Street's record highs from Friday and futures pointing to further strength at the reopen.

The Republican party is edging closer to sweeping both chambers of Congress, taking the Senate on election night and with Edison Research projecting it so far to have 214 seats of the 218 seats needed for control of the House, compared to 205 for Democrats.

However, the stimulus steps lacked the direct injection of money into the economy that some investors had hoped to see, particularly amid the threat of massive tariffs under the incoming Trump administration.