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China Leaves Lending Rates Unchanged

Asia-Pacific markets were mostly higher on Monday after most major bourses ended lower in the previous session, while China left its benchmark lending rates unchanged.

In Japan, the Nikkei 225 fell 197.17 points, or 0.6%, to 33,388.03.

In Hong Kong, the Hang Seng gained 323.88 points, or 1.9%, to 17,778.07, as shares of Alibaba plunged after the Chinese e-commerce giant said it would not proceed with the full spinoff of its cloud group.


In Shanghai, the CSI 300 acquired 8.25 points, or 0.2%, to 3,576.23.

The People’s Bank of China’s one-year loan prime rate — the peg for most household and corporate loans in China — was at 3.45%. The five-year benchmark loan rate — the peg for most mortgages — stood at 4.2%.

In other markets

In Singapore, the Straits Times Index faded 13.09 points or 0.4%, to 3,111.58.

In Taiwan, the Taiex nosed up 1.52 points to 17,210.47.

In Korea, the Kospi index regained 21.35 points, or 0.9%, to 2,491.20.

In New Zealand, the NZX 50 added 30.49 points, or 0.3%, to 11,207.46.

In Australia, the ASX 200 was better 9.04 points, or 0.1%, to 7,058.42.