Stock market today: Asian stocks decline as China stimulus plan disappoints markets
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Asian stocks fell on November 11, 2024, led by a 2.2% drop in Hong Kong's Hang Seng index, as China's 6 trillion yuan ($839 billion) stimulus package failed to meet investor expectations. The stimulus aims to help local governments refinance debt rather than jump-start economic growth, according to Stephen Innes of SPI Asset Management. China's inflation rate rose 0.3% year-on-year in October, down from 0.4% in September. The Hang Seng closed at 20,270.77, while the Shanghai Composite lost 0.4% to 3,437.90. Japan's Nikkei 225 slipped 0.4%, Australia's S&P/ASX 200 dipped 0.5%, and South Korea's Kospi fell 1%. U.S. futures were higher, with the S&P 500 rising 0.4% to 5,995.54 on November 8, 2024, marking its biggest weekly gain since early November 2023. Treasury yields eased, and consumer sentiment rose for the fourth consecutive month. The yield on the 10-year Treasury slipped to 4.30%.

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https://abcnews.go.com/US/wireStory/stock-market-today-asian-stocks-decline-china-stimulus-115721922