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Asian shares fell and the dollar was firm on Monday as investors looked ahead to a week packed with central bank meetings including the Federal Reserve and the Bank of Japan, which will be closely scrutinised for the global monetary policy outlook. S&P 500 futures advanced 0.2% while Nasdaq futures edged 0.1% higher. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5%, with Australia's resources-heavy share market dropping 0.7% and Hong Kong's Hang Seng index off 0.7%.
Asian shares inched higher on Monday as markets wagered the Federal Reserve was done raising U.S. interest rates, and on hopes the drip feed of policy stimulus from Beijing would be enough to stabilise the Chinese economy. More policy action is also expected from Beijing, including relaxing restrictions on home buying. MSCI's broadest index of Asia-Pacific shares outside Japan inched up another 0.1%, having bounced 2.3% last week.
Nvidia s forecast added to investor optimism. Big Tech and AI-related stocks saw their stock market values increase by over $70 billion, on top of Nvidia s increased value, as their shares climbed following the report.