Markets Brace for Beijing's Fiscal Stimulus Update

Global stocks held steady ahead of a key fiscal stimulus update from Beijing, with potential implications for global risks and markets. Investors are also focusing on the Federal Reserve's rate actions and the impacts of U.S. economic data, as major markets anticipate future economic trends.

On Friday, international stock markets paused as investors awaited a significant announcement on fiscal stimulus from Beijing over the weekend, which is expected to impact global economic dynamics.

Wall Street futures showed minor declines, while European markets remained stable. The MSCI Asia-Pacific Index, excluding Japan, concluded the week with losses following weeks of consecutive gains.

The Federal Reserve's rate cut earlier this year has alleviated recession worries, allowing China to consider monetary support without affecting the renminbi. Beijing's upcoming fiscal plans are considered crucial for global market sentiment and risk, although some caution remains about the details pending further Chinese government approvals.

(With inputs from agencies.)