China’s inflation came in at 0.3% in October, lower than the 0.4% seen in September
Asia-Pacific markets fell Monday after China's latest stimulus measures underwhelmed and its October inflation numbers came in lower than expected, prompting concerns over the recovery in the world's second-largest economy.Beijing announced a five-year stimulus package worth 10 trillion yuan to tackle local government debt problems on Friday. However, someThe country's inflation rate declined to 0.3%, missing expectations of 0.4% and also lower than the 0.4% seen in September.
In its summary of opinions for its October meeting, the BOJ said it needs to"exercise caution" even as it strives toward raising its policy rate and normalizing monetary policy, noting that"it cannot be judged at this point that markets are stabilizing." One European stock tanked on the news that Donald Trump had won the 2024 presidential election. However, analysts at investment banks suggest that investors have overreacted to fears of a downturn for the sector.
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