Anna 
Asian stock markets displayed a mixed performance on Monday as investors maintained a cautious stance ahead of crucial monetary policy meetings. The Bank of Japan (BOJ) is set to convene on Tuesday, while the Federal Reserve’s interest rate decision looms on Wednesday, both of which have the potential to introduce significant market volatility.
At the time of reporting, China’s Shanghai Stock Exchange Index had advanced by 0.17% to reach 3,022 points, while the Shenzhen Component Index made substantial gains of 1.53%, pushing it to 9,920 points. On the other hand, Hong Kong’s Hang Seng Index recorded a modest decline of 0.28%, settling at 17,349 points. South Korea’s Kospi Index ascended by 0.45%, providing a contrast to India’s NIFTY 50 Index, which dipped by 0.43%. Japan’s Nikkei, the region’s largest decliner, registered a notable fall of 1.26%.
Speculation regarding the Bank of Japan’s potential adjustments to its bond yield control curve policy has cast a shadow over Japanese stocks. While some analysts anticipate the BOJ raising its inflation forecast to 2.0%, there remains divergence of opinion on whether the central bank will ultimately relinquish its bond yield curve control policy.
On the horizon, China’s National Bureau of Statistics is scheduled to release its Purchasing Managers’ Index (PMI) data on Tuesday. Expectations are for China’s manufacturing PMI to elevate from its previous reading of 50.2 to 50.4. A stronger showing in China’s economic data could help alleviate concerns about a slowdown in the world’s second-largest economy.
Meanwhile, in Australia, consumer spending outperformed expectations. Australian retail sales saw a 0.9% monthly increase in September, surpassing the previous reading of 0.2% and surpassing the projected 0.3% rise.
As the week unfolds, the focal points will be the impending interest rate decisions by the Bank of Japan and the Federal Reserve. Market participants will also closely monitor Malaysia’s monetary policy decision, South Korea’s inflation data, and Hong Kong’s GDP figures for further insights into the evolving financial landscape.
