Oct 17, V7N- Asian shares remained pinned to three-week lows on Thursday as China's housing policy briefing failed to meet investor expectations, causing property stocks to slump. Despite promises from China's housing minister to improve funding access for builders, the lack of fresh stimulus disappointed markets. The CSI300 real estate index fell 7%, reversing earlier gains, and Hong Kong's Hang Seng was up 0.5%, but still 12% below its recent peak.

Meanwhile, Taiwan Semiconductor Manufacturing Company (TSMC) exceeded profit expectations and forecast a significant rise in Q4 revenue, providing some optimism in tech sectors.

In Europe, the market is awaiting the European Central Bank’s (ECB) expected rate cut, with European stock futures edging higher in Asia. This would mark the first consecutive ECB rate cut in 13 years, with further cuts anticipated in December.

Japan’s Nikkei slipped 0.7%, while Australia's mining-heavy index pulled back from record highs amid a drop in iron ore prices. In currency markets, the euro touched an 11-week low ahead of the ECB decision. The U.S. dollar gained strength, fueled by predictions of an improving economy and Donald Trump’s increased chances in the U.S. presidential race, which boosted expectations for inflationary policies and fewer Fed rate cuts.

The Australian dollar rebounded following stronger-than-expected employment data, pushing back rate cut predictions. Commodity markets saw Brent crude stabilize at $74.57 a barrel after four sessions of losses, supported by an unexpected drop in U.S. crude stockpiles.

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