SINGAPORE — Stocks in Asia-Pacific were mixed in Wednesday morning trade as investors in Asia-Pacific wait for the release of China’s latest benchmark lending rate.
In Japan, the Nikkei 225 sat below the flatline while the Topix index shed 0.29%. South Korea’s Kospi rose 0.6%.
Shares in Australia edged higher, with the S&P/ASX 200 up 0.54%.
MSCI’s broadest index of Asia-Pacific shares traded 0.26% higher.
In Southeast Asia, stocks in Malaysia will be closely watched following reports that almost all states in the country will be placed under Movement Control Order from Friday as the government seeks to curb the spread of the coronavirus.
Investor focus on Wednesday will likely be on China’s benchmark lending rate, expected to be out at around 9:30 a.m. HK/SIN. A majority of traders and analysts in a snap Reuters poll predict no change to either the one-year loan prime rate (LPR) or the five-year LPR, which were last sitting at 3.85% and 4.65%, respectively.
Currencies
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.498 following an earlier high above 90.7.
The Japanese yen traded at 103.86 per dollar, having weakened from levels below 103.8 against the greenback yesterday. The Australian dollar changed hands at $0.7707, still off levels above $0.775 seen last week.
Here’s a look at what’s on tap:
- China: One year and five year loan prime rates at 9:30 a.m. HK/SIN
Source: CNBC