HONG KONG, Aug 21 — Markets were mixed today as China’s decision to cut interest rates again failed to reassure investors, who are increasingly worried about the outlook for the world’s number two economy.
Wall Street provided a tepid lead, while focus turns to a symposium of top central bankers and business leaders at Jackson Hole, Wyoming, this week, with dealers hoping for some guidance on rates. The decision to lower the one-year loan prime rate, which serves as a benchmark for corporate loans, comes after a reduction in June and leaves it at a historic low.
Shanghai was also in the red along with Sydney, Singapore and Wellington, though Tokyo, Seoul, Mumbai, Bangkok and Jakarta rose.
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