Asian equities advanced on Monday with a tailwind from the biggest weekly gain in US stocks since June and China’s policy shifts on Covid curbs and the property sector.
key crypto assets and unauthorised withdrawals of funds after it filed for bankruptcy suggest customers have little chance of recovering much of their deposits.
Investors will keep a wary eye on the Group of 20 summit in Indonesia, where US President Joe Biden and Xi are expected to meet. Biden’s hand has been strengthened by the Democrats defying political forecasts and historical trends to keep control of the Senate.for a third session as investors weighed the outlook for Chinese demand as the market tightens heading into winter.
The positive sentiment from China also filtered through to Australian iron ore miners and steel companies as their shares surged. Gold declined on the stronger dollar.Fed’s John Williams moderates panel, MondayUS empire manufacturing, PPI, TuesdayFed’s John Williams, Lael Brainard and SEC chair Gary Gensler speak, WednesdayUS housing starts, initial jobless claims, ThursdayUS Conference Board leading index, existing home sales, Friday.
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