Investing.com-- Most Asian stocks rose on Wednesday after a report suggested that China will target increased fiscal spending in the coming year, although caution before a Federal Reserve rate decision limited gains.U.S. stock index futures were flat in Asian trade, with focus squarely on the Fed. While the central bank is widely expected tolater in the day, it is also expected to signal a slower pace of easing in 2025- a trend that could herald pressure on risk-driven markets.
Reuters reported that Beijing will raise its budget deficit to 4% from 3% of gross domestic product in 2025- its highest on record, and will also target GDP growth of 5% for a third consecutive year. The additional 1% GDP point indicates about 1.3 trillion yuan in additional spending, the Reuters report said. China will also fund more stimulus through debt issuances.
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