Asian stocks dip as rate cut rally cools, China data underwhelms

Investing.com-- Most Asian stocks fell on Friday as warnings from a slew of Federal Reserve officials saw investors reassess expectations of interest rate cuts, while mixed economic readings from China prompted increased caution.

Regional markets took a weak lead-in from Wall Street, as U.S. stock benchmarks closed lower after briefly touching record highs. U.S. stock index futures also tread water in Asian trade. A string of Fed officials warned that it was still too soon to call for interest rate cuts by the central bank, and that the Fed needed more confidence to begin loosening policy.Some middling economic data from China also weighed on sentiment on Friday, although the country’s major tech companies were a sole bright spot among Asian shares.

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