China’s Rally Ends with European Futures in a Close Range – Asia Market Wrap

European markets are expected to open slowly as traders anticipate the ECB’s monetary policy decision. The Chinese share rise stalled as a press briefing on the housing sector failed to provide much support.

Euro Stoxx 50 futures remained unchanged, while US equities contracts declined in Asian trading. China’s CSI 300 had a 1.3% surge after the government announced plans to increase funding for white list projects to 4 trillion Yuan ($562 billion) from the current 2.23 trillion Yuan.

In Asia, market benchmarks fell in Japan and South Korea but increased in Australia. TSM’s net income for the third quarter exceeded the average analyst estimate. The report calmed fears over the semiconductor sector, following ASML’s disappointing order numbers and lower revenue prediction for 2025 earlier this week.

In September, Australia’s hiring boom continued and the unemployment rate remained stable, causing the currency to gain as traders reduced their expectations for the Reserve Bank’s first interest rate cut. In September, Japan’s exports fell to their lowest level since February 2021, slowing the country’s economic recovery due to sluggish global demand.

After four days of falls, oil prices rose as traders balanced potential hazards to Middle Eastern output with fears about a worldwide excess.