Asia-Pacific trades higher after PBoC’s interest rate decision

Major markets in Asia-Pacific traded higher on Monday following the People’s Bank of China’s interest rate decision.

Earlier, it was known that China held its one- and five-year loan prime rates unchanged at 3.45% and 3.95%, respectively. In other news from the region, Thailand’s economy grew by 3.5% in the first quarter of 2024.

At 7:10 am CET, Japan’s Nikkei 225 grew by 0.82%, while Australia’s S&P/ASX 200 rose 0.65%. South Korea’s Kospi advanced by 0.57%.

In mainland China, the Shenzhen Composite improved by 0.17% at 6:55 am CET, and the Shanghai Composite gained 0.49% at 7:11 am CET. On the other hand, Hong Kong’s Hang Seng rose by 0.65%.

The dollar was flat compared to the Japanese yen at 7:12 am CET, trading for ¥155.7375.