Asia open: Focus is on China's annual two session and NPC meeting

Asia markets The strong performance of global equity markets, including the MSCI World, Japanese Nikkei 225, Nasdaq, and S&P 500 indexes, which all closed at record highs last week, provide favourable trade winds for Asian markets as the new week begins on Monday. The positive sentiment is driven by several factors, including the hope for US interest rate cuts, signs of cooling inflation, and a surge in interest surrounding artificial intelligence within the big tech sector.

However, the difficulty lies in balancing these objectives without exacerbating capital outflows, which have already contributed to a weakening exchange rate. Further interest rate cuts could worsen capital flight, trapping the Yuan within a currency depreciation doom loop cycle. Despite these challenges, market observers will closely monitor any adjustments to the longstanding proactive fiscal policy and prudent monetary policy that have been in place for the past few years.

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