Asian stocks drop as China's stimulus plan fails to meet expectations

Asian stocks declined on Monday, with Hong Kong's Hang Seng index dropping over 2%. This follows China's announcement of a 6 trillion yuan stimulus plan, which failed to meet investor expectations for significant economic growth. China's inflation rate rose 0.3% year-on-year in October, a slowdown from September's 0.4%. The Hang Seng fell to 20,270.77, while the Shanghai Composite decreased by 0.4%. Other Asian markets, including Japan and South Korea, also experienced losses. In the U.S., stock futures were higher, and oil prices fell. The S&P 500 gained 0.4% on Friday, marking its largest weekly increase since early November. Treasury yields eased slightly, reflecting a resilient U.S. economy amid ongoing interest rate adjustments.