Asia markets trade mixed after China keeps key lending rates steady for July
China holds key lending rates as softening consumer sentiment persists in world’s second largest economy
China kept its benchmark lending rates steady Monday as the country continues to grapple with weak consumer sentiment and softening growth.
The People’s Bank of China held the 1-year loan prime rate at 3.0% and the 5-year LPR at 3.5%.
LPR, normally charged to banks’ best clients, is calculated based on a survey of dozens of designated commercial banks that submit proposed rates to the central bank.
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— Lim Hui Jie
Asia-Pacific markets open mixed
South Korean markets started the day higher Monday.
As of 8.10 a.m. Singapore time (8.10 p.m. ET Sunday), the Kospi index rose 0.45%, while the small-cap Kosdaq was flat.
Meanwhile, Australia’s S&P/ASX 200 benchmark was flat.
Japanese markets were closed for the Marine Day public holiday.
— Amala Balakrishner
Here are the opening calls for the day
Good morning from Singapore.
Investors will be keeping a close watch on the People’s Bank of China’s decision on its 1-year and 5-year loan prime rates for July expected later in the day.
Futures for Hong Kong’s Hang Seng index stood at 24,883, pointing to a stronger open compared with the HSI’s Friday close of 24,825.66.
Australia’s S&P/ASX 200 was set to start the day lower with futures tied to the benchmark at 8,688, compared with its last close of 8,757.20.
Japanese markets were closed for a public holiday.
— Amala Balakrishner
U.S. futures little changed in early Asia hours
S&P 500, Dow end Friday in the red
The S&P 500 and Dow Jones Industrial Average ended Friday in the red, with stocks turning lower in afternoon trading as tariff fears took over.
The 30-stock Dow lost 142.30 points, or 0.32%, ending at 44,342.19. The S&P 500 inched 0.01% lower to close the session at 6,296.79.The tech-heavy Nasdaq Composite added just 0.05% to settle at 20,895.66.
— Pia Singh
