Asian equities fluctuated as traders awaited a raft of interest-rate decisions by central banks this week, including the Federal Reserve.
A key stock benchmark for the region traded in a tight range, with Australia rising. Shares in mainland China eked out a gain while those in Hong Kong fell, as Reuters reported that Beijing plans to target 2025 gross domestic product growth of around 5%.
Contracts for US equities were steady during Asia trading after the Nasdaq 100 gained more than 1% to reach another record high.
All eyes will be on a multitude of central bank policy decisions slated for this week, including the US and Japan.
Sentiment in the US is relatively positive, with a widely expected quarter-point rate cut from the Fed on Wednesday seen as adding fresh support and extending gains in stocks.
The yen snapped a six-day losing streak after weakening beyond the 154 level versus the dollar overnight. “This week will probably be the final active week for the year,” said Wong Kok Hoong, head of institutional equities sales trading at Maybank Securities.
