China Unveils Economic Stimulus, Asian Markets Mixed

Chinese stocks initially surged as markets reopened after a holiday, fueled by government plans to bolster the economy. However, the rally lost steam, leaving investors disappointed. Other Asian markets were mostly lower, influenced by rising U.S. Treasury yields and oil prices. U.S. stocks also declined after reaching record highs, as higher bond yields dampened investor enthusiasm. The rise in yields, particularly in the 10-year Treasury, makes stocks appear less attractive due to their higher risk profile.