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Asia-Pacific markets trade higher ahead of China’s lending rate decision



A man looks at his smartphone as he walks past the People’s Bank of China building on May 20, 2022 in Beijing.

Jiang Qiming | China News Service | Getty Images

Shares in the Asia-Pacific rose on Monday as analysts expect China’s central bank to keep its benchmark lending rates, or loan prime rates, on hold, according to a Reuters poll.

The Nikkei 225 in Japan added 0.32% and the Topix rose 0.36%. In Australia, the S&P/ASX 200 gained 0.1%.

South Korea’s Kospi was fractionally higher, and the Kosdaq was 0.18% higher. The MSCI’s broadest index of Asia-Pacific shares outside Japan was about flat.


Over the weekend, Malaysia’s election produced a hung parliament, and parties are trying to win support from other blocs to form the government. Later this week, Baidu will report earnings and Singapore will release inflation data.

In the U.S., investors are expecting a number of retail earnings to be released as well as a flurry of economic reports, including durable goods, new home sales, unemployment claims, and consumer sentiment, and minutes from the last Federal Reserve meeting.

— CNBC’s Tanaya Macheel contributed to this report

Source: CNBC

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