Five Things You Need to Know to Start Your Day: Asia

Good morning. Stocks keep going higher — this time in the wake of China stimulus plans. Citi and Apollo are teaming up on private credit. And cash just keeps flooding into money market funds. Here’s what’s moving markets. — Isabelle Lee

The S&P 500 rose to close at its 42nd record high this year while the Nasdaq 100 climbed. Markets were buoyed by data highlighting a resilient US economy and a pledge by China’s top leaders to support fiscal spending. US stock indexes were also propelled higher by Micron, which gave a strong forecast aided by AI demand. Meanwhile, Chinese stocks have been on a tear, with the Nasdaq Golden Dragon Index soaring 19% in the last four days. These shares should be a key part of investors’ plans once the US election is over, according to Scott Rubner of Goldman Sachs.