Market Commentary - Foreign Markets
Chinese markets rally after a weeklong holiday As on : 08-Oct-24  16:35

Asian stocks declined on Tuesday, with Hong Kong markets leading regional losses as China's National Development and Reform Commission pledged more measures to boost the Chinese economy but gave little in the way of details.

The dollar consolidated near a seven-week high while gold edged down slightly after a Federal Reserve official urged a cautious path on interest-rate cuts.

Investors looked ahead of key U.S. inflation readings and the release of the Fed's latest meeting minutes this week for additional clues on the Fed's rate trajectory.

Oil prices were down nearly 2 percent in Asian trading after recent strong gains.

Chinese markets rallied as trading resumed after a weeklong holiday. The benchmark Shanghai Composite index ended up 4.59 percent at 3,489.78, giving up some early gains.

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