Asia stocks rise; China keeps benchmark lending rate unchanged
22 Feb 2021 | SET News
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Asia stocks rise; China keeps benchmark lending rate unchanged
Stocks in Asia-Pacific rose in Monday morning trade as China left its benchmark lending rate unchanged over the weekend.
In Japan, the Nikkei 225 gained 1.03% in early trade, with shares of conglomerate Softbank Group surging more than 2%. The Topix index gained 0.94%. South Korea’s Kospi also traded 0.25% higher.
Meanwhile, shares in Australia were little changed in morning trade as the S&P/ASX 200 was largely flat.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.11% higher.
China kept the one-year loan prime rate (LPR) unchanged at 3.85%, largely in line with expectations of traders and analysts in a Reuters snap poll. The five-year LPR was also kept steady at 4.65%.
The LPR is a lending reference rate set monthly by 18 banks.
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