China Shanghai composite index ends lower after a choppy session

Asian stocks followed Wall Street higher on Monday after the Federal Reserve's preferred inflation gauge came in below expectations, fueling hopes for more rate cuts by the U.S. Federal Reserve in 2025.

Underlying sentiment was also underpinned by expectations of more Chinese stimulus and the passing of a crucial funding bill in the U.S. that helped avert a year-end government shutdown.

The dollar index held steady and bond yields stabilized after core PCE inflation figures released last week signaled softer price pressures. Gold and oil prices were modestly higher in Asian trade.

China's Shanghai Composite index ended down half a percent at 3,351.26 after a choppy session.

 

Hong Kong's Hang Seng index jumped 0.82 percent to 19,883.13 amid expectations that China will ramp up economic support and shift to a moderately loose monetary stance next year.

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