Asian markets ended the session mostly mixed on Monday amid lingering worries about the rising number of coronavirus cases around the world while China maintained its benchmark lending rate for the third straight month.
Japan’s Nikkei 225 pared earlier gains to dip 0.11% while Hong Kong’s Hang Seng Index inched up 0.1%.
Meanwhile, investors focus is on European Union Summit where leaders are trying to reach an agreement over a 750-billion-euro stimulus package.
On the economic front, Japan reported trade data showing exports fell 26.2% in June from a year earlier. The minutes from the Bank of Japan's monetary policy meeting on June 15 and 16 revealed members of the central bank's monetary policy board acknowledged that the country's economic situation is severe and is likely to remain that way thanks to the COVID-19 pandemic.
In China, the Shanghai Composite surged 2.6% and the smaller-cap Shenzhen Composite rose 1.8%.
China kept both its one-year and five-year loan prime rate unchanged, according to Reuters, as its economy continued to recover after reopening following the coronavirus crisis. Last week, official data showed that its economy grew 3.2% in the second quarter from a year earlier, better than the 2.5% expected by analysts, according to Reuters.
Other Markets
Australia’s S&P/ASX 200 lost 0.54% to close at 6,001.60 as financials saw declines across the board.
In South Korea, the Kospi slipped 0.14% to close at 2,198.20.
Benchmark indexes in Taiwan, Singapore and Indonesia were also down.
