Asian Stocks Cautious on Central Banks and Climate Summit

Asian stocks are cautiously awaiting central bank meetings and U.S. inflation data, with concerns about rate cuts and the COP28 climate summit. The Federal Reserve is expected to keep rates steady, while the European Central Bank, Bank of England, Norges Bank, and Swiss National Bank are also scheduled to meet. The Treasury market faces a significant test with $108 billion in new bond supply. Investors are closely watching the outcome of the COP28 climate summit for potential impacts on the phasing out of fossil fuels.