Asian stock markets have fallen for the fourth consecutive session amid weakening expectations for a rate cut by the US Federal Reserve and a sell-off in Chinese stocks. The MSCI Asia Pacific index excluding Japan fell by 1.7%, reaching its lowest level since August last year. TSMC, Samsung Electronics and Hon Hai exerted the most pressure. Taiwan and the Philippines led the decline in the region, while the Indian rupee updated its historical low. The negative was reinforced by strong data on the US labor market, which forced the Fed to revise its rate forecasts. Chinese assets suffered due to trade tensions, and the MSCI China index entered a bear market. Investors are taking profits after last year's rally, reducing risks. The Central Bank of China has promised to support the yuan, which is currently at a historic low. Although China's exports grew by 10.7% in December and annual shipments reached a record of $3.6 trillion, stocks continue to fall. However, analysts predict a 20% increase in Chinese indices by the end of the year, despite the current volatility.
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