Asia Markets Struggle Amid China's Stock Weakness as Bitcoin Soars and Gold Hits Record

Asian shares were volatile due to weak Chinese stocks, while Bitcoin reached a three-month high amidst market speculation over Trump's potential election victory. Gold soared to a record high on Middle East tensions and U.S. election uncertainty. Investors are cautious, awaiting further Chinese stimulus details.

Asia's stock markets displayed significant volatility on Monday, driven by underperformance in Chinese equities. This contrasts with the strong performance of Bitcoin, which has reached a three-month peak due to persistent speculation around 'Trump trades.'

Gold prices surged to a record high, fueled by ongoing tensions in the Middle East and an uncertain U.S. presidential election landscape. Investors remain wary, eagerly waiting for additional details on Chinese fiscal stimulus initially announced in September.

Chinese authorities reduced the benchmark lending rate, an expected move that had minimal impact on markets. As the U.S. election approaches, market focus turns to Trump's economic policies, perceived to favor cryptocurrencies, while stimulating gold demand and impacting U.S. dollar performance.

(With inputs from agencies.)