Asian Stocks Set to Fall, China Holds Rates, Taiwan Stocks Rise After Elections

Global markets face mixed reactions as European Central Bank officials dampen rate cut expectations, China's central bank holds its policy loan interest rate, and Taiwan's stock index rises following the ruling party's election victory.

Asian equities are set to fall following declines in European stocks and bonds after European Central Bank officials tamped down rapid rate cut expectations.
Oil prices retreated, despite ongoing tensions in the Red Sea, as global oil supplies have not been significantly impacted.
China's central bank surprised markets by keeping its one-year policy loan interest rate at 2.5%, contrary to the anticipated trend of lowering borrowing costs to stimulate the economy.
Taiwan's main stock index rose after voters handed the ruling Democratic Progressive Party a third-straight presidential term.
US stock and bond markets will be closed on Monday for Martin Luther King Day.