China stocks hit multi-year highs; rest of Asia mixed

China stocks hit multi-year highs; rest of Asia mixed

China stocks soared to multi-year highs on Monday while caution over upcoming central bank meetings weighed on the rest of Asian indices.

“What’s happening in the China market right now is retail money moving back into stocks after a long 5-6 year bear market. With yields going down from deposits to wealth management products and the property market not jumping back, retail investors have nowhere else to go except stocks,” said Stephen Sheung, Head of Investment Strategy at SHK Private.

The U.S. Federal Reserve begins a two-day policy meeting on Tuesday while the Bank of Japan is due out with its monetary policy decision on Thursday.