Investing.com– Most Asian stocks rose on Tuesday with local technology stocks tracking overnight strength in their U.S. peers, with focus this week squarely on an interest rate decision in China and Japanese inflation data.
Regional markets took some positive cues from Wall Street, as a rally in major tech stocks, led by Tesla (NASDAQ:TSLA), buoyed stock benchmarks.
U.S. stock index futures steadied in Asian trade, with focus this week turning to earnings from market darling NVIDIA Corporation (NASDAQ:NVDA) for more cues on the artificial intelligence trade.
Asian markets, along with Wall Street, were nursing losses over the past week, especially as a risk-on rally following Donald Trump’s election victory appeared to be cooling. Stimulus measures from China also underwhelmed, as did key economic readings from across the region.
China shares steady with LPR decision on tap
China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes lagged their regional peers on Tuesday, moving in a flat-to-low range.
The People’s Bank of China is set to decide on its benchmark loan prime rate later this week, with economists expecting the rate to remain unchanged after a cut in October.
The rate decision also comes as recent stimulus measures from China largely underwhelmed, while the economy showed little signs of improvement. Inflation data for October showed disinflation remained squarely in play.
Several top Chinese ministers are set to speak at a conference in Hong Kong on Tuesday, potentially offering up more cues on plans for stimulus measures.
Hong Kong’s Hang Seng index fared slightly better, rising 0.4% on gains in tech stocks.
