Asian Markets Pause as Eyes Turn to Beijing's Fiscal Stimulus

Asian markets are experiencing a pause in their recent rally, resulting in the first weekly loss in five weeks. Investors are keenly observing the expected fiscal stimulus from Beijing. Meanwhile, U.S. inflation data suggests slow progress in the Federal Reserve's inflation strategy, impacting market expectations for interest rate cuts.

Asian equity markets faced a setback this week, ending a four-week winning streak, as investors eagerly await Beijing's fiscal stimulus details. Despite a 0.3% rise in MSCI's Asia-Pacific shares, the weekly outcome was a 1.7% drop.

In the United States, core consumer inflation's unexpected heat hinted at complications for the Federal Reserve's anti-inflation efforts. Yet, substantial jobless claims lent support to predictions of a November rate cut.

As Wall Street futures gained 0.1%, attention also turned to Tesla's robotaxi launch. South Korean shares edged up post Bank of Korea's expected quarter-point easing.

(With inputs from agencies.)