As investors processed China’s central bank’s decision to lower its one-year and five-year loan prime rates by 10 basis points each to 3.55% and 4.20%, respectively, Asia-Pacific markets traded neutral on Tuesday. The action follows a reduction in several of the People’s Bank of China’s key lending rates last week.
Asia Markets
Mainland Chinese markets were mixed following the announcement, with the Shanghai Composite down 0.47% to end at 3,240.46, its second-straight day of losses. In contrast, the Shenzhen Component rebounded from its Monday loss and was up 0.28%, closing at 11,305.35.
Hong Kong’s Hang Seng index slid 1.57%, dragged by health-care and technology stocks.
In Australia, the S&P/ASX 200
climbed 0.86% and closed at 7,357, leading gains in the region and marking a seven day winning streak.
TICKER | COMPANY | NAME | PRICE | CHANGE | %CHANGE |
.N225 | Nikkei 225 Index | *NIKKEI | 33388.91 | 18.49 | 0.06 |
.HSI | Hang Seng Index | *HSI | 19607.08 | -305.81 | -1.54 |
.AXJO | S&P/ASX 200 | *ASX 200 | 7357.8 | 62.9 | 0.86 |
.SSEC | Shanghai | *SHANGHAI | 3240.36 | -15.44 | -0.47 |
.KS11 | KOSPI Index | *KOSPI | 2604.91 | -4.59 | -0.18 |
.FTFCNBCA | CNBC 100 ASIA IDX | *CNBC 100 | 8660.59 | -45.87 | -0.53 |
In Japan, the Topix fell 0.29% to settle at 2,283.85, while the Nikkei 225 reversed previous losses and closed the day modestly up at 33,388.91.
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Along with the Kosdaq, which lost 0.22% and closed at 886.41, the Kospi, a stock market index in South Korea, continued its downward trend from Monday by dropping 0.18% and finishing at 2,604.91.
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Although U.S. markets were closed on Monday in observance of the Juneteenth holiday, stock futures declined as investors anticipated a trading week that would be shorter due to the holiday.
S&P 500 futures down 0.16%, while Dow Jones Industrial Average futures declined by 0.26%. Futures for the Nasdaq 100 fell by 0.15%.