Asian Stocks Mixed Ahead of Fed, BOJ Signals on Rates Outlook

Asian stocks showed mixed movements as investors awaited crucial announcements from the Federal Reserve and the Bank of Japan, which are expected to impact global interest rates. While recent signs point towards a potential rate cut by the Fed, caution prevails in the markets. The dollar stabilized after a period of decline, while the yen continued its upward trend. Meanwhile, the Bank of Korea hinted at a possible rate cut in the coming months. Positive earnings reports from companies like Xiaomi provided a boost to Chinese tech stocks, although overall market sentiment remains cautious. Traders are closely watching for confirmation of stable earnings to support a potential rebound in the Chinese market. A significant downward revision in US job growth figures further fueled expectations of a Fed rate cut in September.