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Workers at the construction site of resettlement housing in Huai ‘an city, Jiangsu province, China, June 17, 2024.
Cfoto | Future Publishing | Getty Images
Asia-Pacific markets started the day mixed as investors awaited China’s one- and five-year loan prime rates.
The one-year loan prime rate serves as a benchmark for most corporate and household loans, while the five-year rate serves as a peg for property mortgages. The one-year LPR currently stands at 3.45%, while the five-year LPR is at 3.95%.
Earlier this week, the People’s Bank of China kept the 1-year medium-term lending facility rate steady at 2.5%.
South Korea’s Kospi gained 0.06%, while the small-cap Kosdag inched up 0.04%.
Japan’s Nikkei 225 and the broad-based Topix started the day with losses of 0.28% and 0.12%, respectively.
Australia’s S&P/ASX 200 dipped marginally.
New Zealand’s economy exited a technical recession, growing 0.2% quarter-on-quarter in the first three months of the year and beating Reuters poll expectations of a 0.1% expansion. On a year-on-year basis, the economy grew 0.2%.
Hong Kong’s Hang Seng index futures were at 18,391, lower than the HSI’s last close of 18,430.39.
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