Asian Stocks Flat as Investors Eye China Data, Bonds Rally on Rate Cut Bets
• Shares in Asia little changed, mirroring flat day on Wall Street as bonds extend rally on bets of Fed rate cuts in 2023 • Investors closely watching China PMIs for signs of economic resilience; some investors beginning to bet on Chinese market turnaround • Bond yields fell further as market bets grow that Fed will cut rates faster than expected following more dovish comments from Fed officials • Economic data showing signs of US soft landing - GDP grew faster but consumer spending slowed; Fed's preferred inflation gauge revised down • Corporate highlights Origin Energy rejects Brookfield takeover bid; Disney CEO says not selling TV channels; GM unveiling big share buyback