Japanese stocks rallied as the yen weakened before the U.S. Federal Reserve’s meeting this week, while Chinese stocks reversed earlier declines amid strong economic data. European stock index futures were little changed.
The yen traded near its weakest in 10 months against the dollar as the Fed begins a two-day policy meeting. Shares in Shanghai rallied and yuan government bonds declined after China’s official data showed stronger-than-expected industrial output and retail sales. Sovereign debt in most other markets snapped declines as oil failed to build on a rally spurred by OPEC’s deal with rivals to curb production.