SINGAPORE — Stocks in Asia-Pacific were mixed in Monday morning trade as investors await the release of China’s benchmark lending rate.
South Korea’s Kospi recovered from an earlier dip as it rose 0.34% in morning trade as shares of Hyundai Motor jumped more than 3%. Over in Australia, the S&P/ASX 200 was fractionally lower.
Overall, the MSCI Asia ex-Japan index traded little changed.
Markets in Japan are closed on Monday for a holiday.
China’s one-year and five-year Loan Prime Rate (LPR) are set to be out at around 9:30 a.m. HK/SIN on Monday. A majority of traders and analysts polled by Reuters expect no change to both the one-year and five-year LPR. The one-year LPR is currently at 3.85% while the five-year rate sits at 4.65%.
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.894 after last week’s decline from levels above 93.3.
The Japanese yen traded at 104.52 per dollar after strengthening in the previous trading week from levels above 105.6 against the greenback. The Australian dollar changed hands at $0.7304 after trading last week between levels above $0.732 and below $0.729.
Oil prices were lower in the morning of Asian trading hours, with international benchmark Brent crude futures down 0.51% to $42.93 per barrel. U.S. crude futures also shed 0.63% to $40.85 per barrel.
Here’s a look at what’s on tap:
- China: One-year Loan Prime Rate and five-year LPR release at 9:30 a.m. HK/SIN
Source: CNBC