Asian shares rise on Tuesday and recover a part of the recent heavy losses. Geopolitical risks should cap any optimism ahead of the key Chinese data. Investors this week will further take cues from Fed Chair Powell’s speech. t developments in the Middle East. The broader risk sentiment, meanwhile, remains fragile in the wake of the risk of broadening the Israel-Hamas conflict into a wider proxy war with Iran and ahead of this week's important Chinese macro data.
Traders might also prefer to wait on the sidelines and look to Wednesday's release of the third-quarter GDP data from China – Asia’s largest economy – before placing fresh bets. The data is expected to show continued weakness in economic growth and further fuel concerns about the worsening conditions in China. Hence, any disappointing Chinese data might take its toll on the global risk sentiment and weigh heavily on Asian stocks.
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