Asian stocks climbed following China's commitment to implementing more measures to stimulate consumer spending, whereas US equity futures dropped with Treasury Secretary Scott Bessent labeling the recent market decline as a healthy correction. Stocks in Australia, Japan, and South Korea rose at the start of the week, and futures in Hong Kong indicated a positive open. The S&P 500 surged by 2.1% on Friday, while the Nasdaq 100 also advanced by 2.1%. The Golden Dragon index went up by 2.7% as Chinese authorities prepared to announce plans to encourage consumption. China is in the spotlight as authorities are expected to reveal strategies to stabilize stock and real estate markets, increase wages, and boost birth rates. Market participants are eagerly awaiting Chinese data, including industrial production and retail sales figures for February.

Tony Sycamore, an analyst at IG in Sydney, mentioned that the initiatives unveiled over the weekend are aimed at boosting consumer confidence in China, which could help maintain the global equity market rally. Meanwhile, Treasuries saw a slight increase in Asia trading following Friday's decline, while US stock futures dropped awaiting February retail sales data release. The 10-year yield dipped by 1 basis point to 4.30% after a 4-basis point rise on Friday.

This week will see several central bank meetings as global uncertainties increase due to President Trump's trade policies. The Bank of Japan is predicted to maintain its rate following a recent hike, while the Bank of England is likely to keep rates unchanged. Federal Reserve Chairman Jerome Powell faces the challenge of reassuring investors about the economy's stability while being prepared to intervene if necessary. Analysts at Commonwealth Bank of Australia, including Joseph Capurso, noted that economic growth forecasts might be lowered by the Fed, with minor revisions for core inflation estimates. The 'dot plot', representing members' estimates of the Funds rate annually, may not change significantly if the rise in core inflation is deemed temporary.