The Asian stock market settled earlier today in preparation for an important speech from China’s Communist Party regarding future policy making.
The event began with a speech by President Xi Jinping who seemed to suggest a freer market for China, while at the same time stressing that the government also plays an important role through regulation.
Market analysts are still looking for more specific clues as to how the Chinese markets would develop from here on. Due to China’s economic slowdown over the past few years, many expect that there would be a policy change or an economic reform. Considering China’s enormous importance in the global economy, any surprise during the conference could tip the markets in a new direction.
Both the Asia-Pacific (without Japan) (MIAPJ0000PUS) and the South Korean (KS11) indices remained at good levels. The Nikkei in Japan was also 0.2 percent up.
In addition, there are elections in Japan this week, but the current prime minister Shinzo Abe is expected to win another term without much trouble.
