Asian stocks sink on political uncertainty; China rate cut offers little cheer

Investing.com-- Most Asian stocks fell on Monday amid uncertainty over what a potential administration change in the U.S. will entail for the region, with a surprise interest rate cut in China doing little to lift spirits.

While Wall Street futures initially rose after Biden’s decision, they trimmed a bulk of their gains in Asian trade. Trump, who was polling ahead of Biden and Harris according to CBS data from last week, has maintained a largely negative stance towards China. His administration had imposed steep tariffs on China, sparking a trade war with Beijing in the late-2010s.

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