Investing.com-- Most Asian stocks kept to a tight range on Monday as focus remained on the upcoming earnings season, while Chinese markets rose in choppy trade after the People’s Bank cut rates slightly more than expected.
A slew of major U.S. and Asian earnings are due in the coming weeks, offering up more cues on corporate profits amid high global interest rates and softer economic conditions.The LPR cut comes amid a flurry of stimulus measures from Beijing, and was largely expected by markets. But while enthusiasm over the new measures initially drove Chinese stocks to two-year highs, they retreated in recent sessions as investors were underwhelmed by a lack of details on the timing and scale of the new measures.A string of recent economic readings also showed little improvement in Asia’s biggest economy.Broader Asian markets kept to a tight range, with focus remaining on the third-quarter earnings season, while investors also sought more cues on interest rates in major economies.
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