Stock market today: Asian stocks decline as China stimulus plan disappoints markets

📆 11/10/2024 9:54 PM
📰 AP

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Asian stocks fell on Monday, led by a more than 2% drop in Hong Kong’s Hang Seng index, as China’s stimulus package disappointed investor expectations. China on Friday approved a 6 trillion yuan plan during a national legislature meeting.

A person walks in front of an electronic stock board showing Japan’s Nikkei index at a securities firm Monday, Nov. 11, 2024, in Tokyo. People stand in front of an electronic stock board showing Japan’s Nikkei index at a securities firm Monday, Nov. 11, 2024, in Tokyo. A person walks in front of an electronic stock board showing Japan’s Nikkei index at a securities firm Monday, Nov. 11, 2024, in Tokyo.

Meanwhile, China’s inflation rate in October rose 0.3% year-on-year, according to the National Bureau of Statistics on Saturday, marking a slowdown from September’s 0.4% increase and dropping to its lowest level in four months.Japan’s benchmark Nikkei 225 slipped 0.4% in morning trading to 39,347.79. Australia’s S&P/ASX 200 dipped 0.5% to 8,252.70. South Korea’s Kospi fell 1% to 2,534.82.

The yield on the 10-year Treasury slipped to 4.30% Friday from 4.33% late Thursday. But it’s still well above where it was in mid-September, when it was close to 3.60%. Some of the rise in yields has also been because of Trump. He talks up tariffs and other policies that economists say

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