Asian stocks mixed amid weak China data after Wall Street closes the best week of 2024

HONG KONG — Asian stocks were mixed on Monday with several key markets closed for a holiday, after U.S. stocks finished their best week of the year and climbed to the cusp of their records.

Investors will closely watch the Federal Reserve’s policy meeting on Tuesday and Wednesday, when the central bank is expected to announce its first interest rate cut since 2020. The Bank of Japan’s policy meeting on Thursday and Friday is expected to leave Japan's rate unchanged. Stocks also got support from the bond market, where Treasury yields eased ahead of this week’s meeting of the Federal Reserve. The unanimous expectation on Wall Street is for the Fed to deliverThe Federal Reserve has been keeping its main interest rate at a two-decade high in hopes of slowing the economy enough to stifle high inflation.

The yield on the 10-year Treasury eased to 3.65% from 3.68% last Thursday. The two-year yield, which more closely tracks expectations for Fed action, fell more sharply to 3.58% from 3.65%. Build a house, rebuild women’s lives – donate here to The Independent and Refuge’s Brick by Brick campaign to help domestic abuse survivors. Maya Oppenheim takes us through the lifesaving initiativeAs the Israel-Hamas war continues, Israeli Prime Minister Benjamin Netanyahu has vowed to retaliate against the Houthi movement after a missile fired from Yemen fell in central Israel on Sunday morning.

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