The ruling party in Japan may see its tally of seats shrink in the next general election this Sunday amid widespread public frustration with party corruption and rising cost of living.
Hopeful investors bid up stocks as China prepares to issue sovereign bonds and ramp up its debt-fueled spending to support local government initiatives.
Market indexes in Tokyo traded down as investors awaited the release of quarterly results from leading corporations. This Sunday's national election uncertainty also weighed on market sentiment.
Investors in China held out for additional fiscal measures amid a lack of optimism about quarterly results. Electric vehicle automakers advanced on a speculation that sales in the current month are likely to rise from the previous month.
Market indexes in Japan struggled to stay above the flatline. In cautious trading ahead of the national election this Sunday. The ruling LDP is likely to return to power for the fifth time in a row despite the corruption scandal and widespread voter dissatisfaction amid the cost of living crisis.
The People's Bank of China lowered its key loan prime rates for one-year and five-year by 25 basis points in a move to provide additional support to the flailing property market. The Hang Seng index extended weekly losses as investors look forward to the meeting of the National People's Congress.
HDFC Bank, Kotak Mahindra, RBL Bank, and UCO Bank reported rising net interest income and elevated net interest margin. Oberoi Realty said revenue and earnings rose in the September quarter.
Japan's benchmark indexes declined for the week after tech stocks gyrated, tracking volatile markets in New York. Consumer price inflation eased to a five-month low, raising hopes that the central bank will delay future rate increases.
China's GDP growth slowed to an annual pace of 4.6% in the third quarter, and new home prices continued to fall for the 16th month in a row in September.
Benchmark indexes in Tokyo dropped between 1% and 2% following a sharp sell-off in tech stocks in overnight trading in New York. Tokyo Metro priced its public offering at the upper end of its filing range, the largest public offering in six years.
Investors continued to lower expectations of possible fiscal measures. China's policymakers prepare to raise already high government debt to finance fiscal measures supporting local government.
Market indexes in mainland China and Hong Kong extended losses for the second week in a row amid growing uncertainty about the possible fiscal measures and waning investor confidence.
Stocks traded volatile in Hong Kong and mainland China after the finance minister failed to provide specific details of the widely touted fiscal measures.
