Asian Markets Rise; China Keeps Loan Prime Rate Unchanged for January

This post was originally published on this site
https://i-invdn-com.akamaized.net/news/LYNXNPEB940MS_M.jpg
© Reuters. © Reuters.

By Alex Ho

Investing.com – Asian markets were mostly higher in morning trade on Monday. China’ stocks traded higher as the People’s Bank of China (PBOC) kept the loan prime rate unchanged.

China’s gained 0.4% by 11:48 PM ET (03:48 GMT), while the rose 1.0%.

The PBOC kept the one year unchanged at 4.5% and the five year loan prime rates at 4.8% for January. It was the second month in a row that the central bank left borrowing cost unchanged.

Hong Kong’s Index underperformed its regional peers and lost 0.4% in morning trade.

Japan’s climbed 0.2%. The Bank of Japan will meet for its first policy meetings this week but is not expected to make any major changes.

South Korea’s gained 0.8%.

Down under, Australia’s advanced 0.4%.

Elsewhere, the IMF is to release its adjusted global economic forecast on Monday in Davos. On Friday IMF Managing Director Kristalina Georgieva said the interim trade deal between Washington and Beijing will reduce – but not eliminate – uncertainty that has acted as a drag on global growth.

The organization had previously estimated that global trade tensions would shave 0.8% off international economic growth.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment