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Stock market today: Asian stocks gain ahead of US and Japan rate decisions

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HONG KONG (AP) — Asian stocks advanced Monday ahead of policy decisions this week by Japan’s central bank and the Federal Reserve. Oil prices and U.S. futures rose.

HONG KONG — Asian stocks advanced Monday ahead of policy decisions this week by Japan’s central bank and the Federal Reserve.Chinese data for January-February were mixed, with property investment falling while other indicators showed improvement.

The Hang Seng in Hong Kong was flat at 16,720.40, and the Shanghai Composite index gained 0.5% to 3,069.67. Technology stocks retreated. Software maker Adobe slumped 13.7% after giving investors a weak revenue forecast. Microsoft fell 2.1% and Broadcom lost 2.1%. A closely-watched report from the University of Michigan showed that consumer sentiment unexpectedly fell in March.

Other reports this week showed some softening in the economy, which bolstered hopes for a continued long-term easing of inflation.

 

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