Asian Markets Stabilize Amid Economic Uncertainty
Asian stock markets stabilized as Monday trading quieted due to holidays, despite underwhelming economic data from Japan. While shares consolidated, concerns rose over mega-cap technology companies' capital expenditure impacts. Key data, including U.S. GDP and global manufacturing surveys, are awaited to provide further economic insights.
Asian stock markets on Monday saw a stabilization as trading activity slowed due to public holidays in several major centers, including China, South Korea, and the U.S. This came despite Japan reporting significantly lower-than-expected economic growth for the December quarter, increasing pressure on government policymakers.
The Nikkei index in Japan managed a slight gain of 0.2% after a strong rally in the previous week, as investors anticipated more fiscal stimulus measures. Meanwhile, South Korea and Taiwan markets remained robust, driven by the technology sector's recent performance, though concerns lingered about the sustainability of this trend.
In commodities, oil prices remained steady ahead of possible production increases by OPEC in April, while gold prices experienced mild fluctuations. The Swiss franc's relentless rise against the euro put the Swiss National Bank on alert for potential market intervention.
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