SINGAPORE — Asian stocks swung between gain and loss on Monday as investors struggled to reach a consensus view on China's broad economic stimulus promises made over the weekend which were light on specifics. "Most onshore investors believe Beijing's decision to restructure local government and housing debt using central government funds is more significant than many foreign investors believe," said analysts at Morgan Stanley in a client note. US stock futures similarly edged lower, with S&P 500 futures losing 0.06 percent while Nasdaq futures fell 0.18 percent. Brent crude futures were last down 1.2 percent at $78.09 a barrel, while US West Texas Intermediate crude futures fell 1.22 percent to $74.64 per barrel. A reading on UK inflation is due later this week, as is an interest rate decision from the European Central Bank.

Source: Manila Times October 15, 2024 04:18 UTC