Mixed signs prevail on Monday in the stock exchanges of the Asia-Pacific region, with investors turning their attention to China, where the central bank announced its decisions on lending rates.
On the board, the Japanese Nikkei closed 0.74% lower at 25,771.22 points, with South Korea KOSPI to lose 2.04%, while in Hong Kong o Hang Seng increased by 0.19%. In mainland China, the Shanghai records losses of 0.12%, while o Shenzen gains 1.34%. In Taiwan, the Taiwan Weighted lost 1.75%, while in Australia the S & P / ASX 200 lost 0.64%.
China’s central bank kept its key lending rate stable at its monthly meeting as Beijing once again avoided boosting its stagnant economy at a time when many other countries are tightening their monetary policy to tackle inflation.
The central bank of China kept the one-year loan interest rate stable at 3.7%, while the corresponding five-year (which is a benchmark for mortgages) remained at 4.45%.
The move was widely expected by analysts as the central bank kept the medium-term lending rate unchanged at 2.85%, while injecting 200 billion yuan ($ 29.78 billion) of liquidity into the banking system through the medium-term lending.
China’s central bank cut interest rates for first-time homebuyers last month and cut its benchmark interest rate by a margin of 0.15 percentage points.
Netease shares lost 7.68% after the announcement of the delay in the release of the video game Diablo Immortal in China, a few days before its scheduled release.
Hong Kong-based Alibaba shares are down about 1%, despite Reuters saying China’s central bank would authorize Ant Group’s subsidiary to set up a holding financial company, raising hopes of an initial public offering. public offering for Ant.
“Global economic concerns are high. In China, lockdowns to address the coronavirus have led to an economic slowdown. The US Federal Reserve’s stance on monetary policy could lead to a slowdown in the US economy, while in “In emerging economies, rising food prices are leading to political instability,” Felix Brill of VP Bank said in a statement.
“The coming months will be difficult from the point of view of the economy. Hope comes only from the field of supply chains, which are expected to normalize,” he added.
Source: Capital
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