Asia-Pacific markets mixed as investors await China’s benchmark lending rate announcement
Asia-Pacific markets were mixed on Monday as traders awaited China’s benchmark lending rate announcement, with focus also on Japan’s general election later this week.
China’s central bank is expected to cut the one-year and five-year LPR by 20 basis points, ING noted, echoing comments made by People’s Bank of China Governor Pan Gongsheng on Friday.
ING also noted that the PBOC is likely to release its interest rate decision for its medium-term lending facility on Friday, although it is expected to remain unchanged at 2% after being cut by 30 basis points last month.
“In addition to the data, it is worth watching for any further briefings from government ministries or a possible announcement of the timing of the National People’s Congress meeting in the coming week, as the rollout of stimulus remains a key theme for markets,” ING said.
Other key economic data this week will include October inflation figures for the Japanese capital, Tokyo, as well as third-quarter GDP figures from South Korea. Japan's benchmark Nikkei 225 index was slightly lower, while the broad-based Topix index fell 0.11%. South Korea's Kospi rose 0.22% and the small-cap Kosdaq index fell slightly. Australia's S&P/ASX 200 started the day up 0.64%. Futures on Hong Kong's Hang Seng index were at 20,782, indicating a weaker open compared with the HSI's close of 20,804.11.
Source: CNBC
