Asia Pacific stocks were mixed on Monday as China cut its benchmark lending rate.
In Japan, the Nikkei 225 index dropped 228.14 points, or 1.2%, to 19,669.12
The Japanese yen traded at 107.78 per U.S. dollar after touching levels below 107.4 in the previous trading week.
In Hong Kong, the Hang Seng index fell 49.98 points, or 0.2%, to 24,330.02.
Coronavirus developments likely also continued to be watched, with more than 2.3 million infected globally while at least 164,000 lives have been taken, according to data compiled by Johns Hopkins University. Stocks globally had gotten a boost late last week after a report said patients with severe virus symptoms were quickly recovering after using remdesivir, a Gilead Sciences drug.
The Australian dollar changed hands at $0.6354 following turbulent trading last week that saw it rising to levels above $0.64 and falling below $0.63.
CHINA
In Shanghai, the CSI 300 added 13.97 points, or 0.4%, to 3,853.46
That came as China cut its one-year loan prime rate to 3.85% from 4.05%. The five-year loan prime rate was also reduced to 4.65% from 4.75%. The moves marked the second cut to the loan prime rates for 2020.
In other markets
In Korea, the Kospi index reversed 16.17 points, or 0.8%, to 1,898.36.
In Taiwan, the Taiex Index removed 10.33 points, or 0.1%, to 10,586.71
In Singapore, the Straits Times Index settled 16.75 points, or 0.6%, to 2,597.85.
In Australia, the ASX 200 dumped 134.53 points, or 2.5%, to 5,353.01
In New Zealand, the NZX 50 ditched 16.04 points, or 0.2%, to 10,762.68.
