Investing.com-- Most Asian markets fell on Tuesday as traders remained largely risk-averse before a hotly contested U.S. presidential election later in the day, while Chinese markets were supported by strong business activity data.
Regional markets took middling cues from a negative overnight session on Wall Street, as anticipation of a tight race between Donald Trump and Kamala Harris kept investors on edge. U.S. stock index futures steadied in Asian trade, with voting set to begin later on Tuesday. The reading comes after Beijing announced a string of major monetary and fiscal measures in the past month, and drummed up hopes that Asia’s biggest economy would improve amid increased government support.
While the RBA is not expected to signal any more rate hikes, it is also unlikely to signal any plans to begin cutting interest rates in the near-term. Analysts at ANZ and Westpac only expect the bank to begin cutting rates by February 2025.fell 0.6% as data showed consumer inflation missed expectations in October, opening the door for more interest rate cuts in the country. While such a scenario bodes well for Korean markets, they were pressured by persistent losses in the technology sector.
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