Asia Stocks Steady Ahead of Fed Chair's Key Speech at Jackson Hole

Asian stocks remained mostly steady on Friday as traders eagerly awaited a pivotal speech by Federal Reserve Chair Jerome Powell at the annual Jackson Hole symposium. This event could offer crucial insights into the future of U.S. monetary policy, with financial markets keenly eyeing the possibility of a rate cut in September amid emerging signs of job market fragility.

The MSCI index of Asia-Pacific shares excluding Japan experienced fluctuations, shedding its early gains by 0.1%. Investors are scrutinizing central bankers' reactions to U.S. tariffs and their effects on economic growth and inflation, factors that profoundly influence interest rate policies amid stagflation risks, according to Vasu Menon of OCBC.

Against this backdrop, China's blue-chip CSI 300 Index surged 1.8%, buoyed by tech shares following news from DeepSeek and Nvidia. Meanwhile, Japan's Nikkei 225 index wavered, ending 0.1% lower as data indicated a slowdown in core consumer prices. The market remains watchful of Governor Ueda's speech at Jackson Hole, amid shifting expectations of monetary policy moves across the globe.

(With inputs from agencies.)