Asian stocks saw a mostly positive trend on Monday, buoyed by significant rate decisions made by key central banks last week. The U.S. Federal Reserve, Bank of Japan, People's Bank of China, and Bank of England all played a role in shaping market sentiment.
Chinese stocks received a boost as the central bank reduced its 14-day reverse repurchase rate, a move that was anticipated by the markets. The Hang Seng in Hong Kong and the Shanghai Composite index both posted gains.
Japan's markets were closed for a public holiday, but attention remained on the Bank of Japan's decision to maintain its benchmark rate. This decision led to a weakening of the Japanese yen against the U.S. dollar.
Elsewhere, Australia's S&P/ASX 200 experienced a slight decline, while South Korea's Kospi index advanced.
In the U.S., the S&P 500 and Nasdaq composite saw minor declines, while the Dow Jones Industrial Average reached another record high.
The Federal Reserve's recent rate cut marked a shift in policy focus towards supporting job market stability and economic growth. The Bank of England also opted to keep its main interest rate unchanged following the Fed's move.
Looking ahead, the week will bring key reports on U.S. business activity, economic growth, and consumer spending. Oil prices showed a modest increase, with U.S. benchmark crude and Brent crude both rising.
The euro also saw a slight uptick against the dollar in early trading. Overall, market participants are closely monitoring central bank actions and economic indicators for further insights into global market trends.
