Asia-Pacific shares edge lower; China set to announce loan prime rates


Stocks in Asia-Pacific nudged lower Monday morning trade as investors await the release of China’s benchmark lending rate.

South Korea’s Kospi dipped 0.15% in early trade. Over in Australia, the S&P/ASX 200 shed 0.18%.

Overall, the MSCI Asia ex-Japan index traded 0.12% lower.

Markets in Japan are closed on Monday for a holiday.

China’s one-year and five-year Loan Prime Rate (LPR) are set to be out at around 9:30 a.m. HK/SIN on Monday. A majority of traders and analysts polled by Reuters expect no change to both the one-year and five-year LPR. The one-year LPR is currently at 3.85% while the five-year rate sits at 4.65%.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.937 after last week’s decline from levels above 93.3.

The Japanese yen traded at 104.53 per dollar after strengthening in the previous trading week from levels above 105.6 against the greenback. The Australian dollar changed hands at $0.7295 after trading last week between levels above $0.732 and below $0.729.

Oil prices were lower in the morning of Asian trading hours, with international benchmark Brent crude futures down 0.79% to $42.81 per barrel. U.S. crude futures also shed about 0.9% to $40.75 per barrel.

Here’s a look at what’s on tap:

  • China: One-year Loan Prime Rate and five-year LPR release at 9:30 a.m. HK/SIN



Source link

Discover

Sponsor

spot_imgspot_img

Latest

Democrats Kaine and Bennet introduce health care public option bill

Senator Michael Bennet, D-Colo., speaks during a Senate Finance Committee hearing for Janet Yellen, of California, President-elect Joe Biden's nominee for Treasury Secretary...

So you’ve been diagnosed with COVID-19. What next?

submitted by /u/jms1225 Source link

American Airlines ramps up domestic schedule to nearly pre-pandemic levels

An American airlines Airbus A321-200 approaches Washington Ronald Reagan National Airport (DCA) in Arlington, Virginia on February 24, 2021.Daniel Slim | AFP |...

Weekly jobless claims little changed despite signs that hiring is slowing

First-time filings for unemployment insurance were little changed over the past week despite other indicators that the labor market weakened at the end...

Xiaomi shares rally after US agrees to remove it from blacklist

Xiaomi's headquarters in the Xuhui District of Shanghai.Costfoto | Barcroft Media | Getty ImagesGUANGZHOU, China — The U.S. has agreed to remove Xiaomi...