Asian Stock Market: Trades mixed following PBoC rate cut, Chinese stimulus support eyed

At press time, China’s Shanghai is down 0.38% to 3,120, the Shenzhen Component Index declines 0.25% to 10,432, and Hong Kong’s Hang Sang dips 1.38% to 17,703. India’s NIFTY 50 is up 0.11%, South Korea’s Kospi rises 0.52%, and Japan’s Nikkei gains 0.72%.are the worst performers in the region on Monday. The People's Bank of China decided to cut the one-year Loan Prime Rate by 10 basis points to 3.45% from 3.55% and maintained the five-year LPR unchanged at 4.2% on Monday.

In New Zealand, the nation’s Trade balance recorded a deficit of $15,810B in July YoY compared with a deficit of $-16.11B in the previous month. Exports fell to $5.45bn in July from $6.18B in the previous month, while Imports expanded to $6.56B from $6.29B prior.Speaks at the Jackson Hole Symposium on Friday. The speech could provide clues about economic conditions and indications of whether the inflation is under control or additional interest rate increases are required to curb inflation.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Asian stocks mixed as traders await Fed conference for interest rate updateAsian stocks are mixed as traders look ahead to the Federal Reserve’s summer conference for signs of whether the U.S. central bank thinks inflation is under control or more interest rate hikes are needed to cool inflation.
Source: ksatnews - 🏆 442. / 53 Read more »

Stock market today: Asian stocks mixed as traders await Fed conference for interest rate updateAsian stocks are mixed as traders look ahead to the Federal Reserve’s summer conference for signs of whether the U.S. central bank thinks inflation is under control or more interest rate hikes are needed to cool inflation.
Source: AP - 🏆 728. / 51 Read more »

Stock market today: Asian stocks mixed as traders await Fed conference for interest rate updateAsian stocks are mixed as traders look ahead to the Federal Reserve’s summer conference for signs of whether the U.S. central bank thinks inflation is under control or more interest rate hikes are needed to cool inflation.
Source: wjxt4 - 🏆 246. / 63 Read more »

‘Unique’ Aramco IPO changes the dynamics of Saudi Arabia’s economy, stock market CEO saysThe world's largest IPO will radically transform the way in which Saudi Arabia's economy operates, according to the chief executive of the Saudi Stock Exchange.
Source: CNBC - 🏆 12. / 72 Read more »