Asian stocks: Japan tumbles as BOJ vows more rate hikes, China rebound stalls

Investing.com-- Most Asian stocks were muted on Thursday as Japanese shares plummeted after the Bank of Japan flagged more interest rate hikes, while a rebound in Chinese markets stalled on more underwhelming business activity data.

But Ueda’s comments, which came after the market close, indicated that the central bank was closer to ending its decades of stimulative measures earlier than initially expected. data on Thursday showed an unexpected contraction in China’s manufacturing sector. The reading came just a day after government

While the weak PMIs and positive comments from Beijing had fueled bets on more stimulus- in part sparking Wednesday’s rebound in Chinese markets- persistent caution over an economic slowdown kept investors mostly averse towards Chinese stocks.rose 0.4%, briefly hitting a record high at 8,148.70 points after some soft inflation readings from the country triggered a rally on Wednesday.

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