Asian stocks poised for decline as China’s debt plan disappoints while Bitcoin soars past $81,000
Asian stocks are expected to decline as Australian shares fell and futures in Tokyo and Hong Kong indicate losses. This follows China's announcement of a 10 trillion yuan plan that lacked new measures to boost domestic demand. Bitcoin surged past $81,000, driven by support from President-elect Donald Trump and the election of pro-crypto lawmakers. In contrast, sentiment towards China is weakening due to slumping foreign investment and easing consumer inflation. The US dollar rose against major currencies amid concerns over potential inflation from Trump's fiscal policies. Oil prices remained steady near $70 a barrel after a drop last week, while gold prices held firm.