TOKYO, JAPAN – JULY 27: Pedestrians and shoppers walk through the Akihabara area on July 27, 2023 in Tokyo, Japan. Japan’s core consumer price index climbed by 3.3% in June, outpacing the US figure for the first time in eight years as the Bank of Japan holds its monetary policy meeting on July 27 and 28. (Photo by Tomohiro Ohsumi\/Getty Images)<\/p>\n
Tomohiro Ohsumi | Getty Images News | Getty Images<\/p>\n
Asia-Pacific markets traded higher Monday, tracking Wall Street’s gains on Friday stateside, as investors awaited China’s key lending rate decision that’s due out today.<\/p>\n
China is expected to leave the loan prime rates unchanged, according to a Reuters poll. This came after the central bank kept a key interest rate steady after the U.S. Federal Reserve lowered its rates by 25 basis points.<\/p>\n
Japan’s benchmark Nikkei 225<\/a> index rose 0.74% at the open, while the Topix index advanced 0.58%.<\/p>\n South Korea’s Kospi<\/a> index added 0.71% in early trading, while the small-cap Kosdaq was 0.7% higher.<\/p>\n Australia’s ASX\/S&P 200 increased 0.49%.<\/p>\n Hong Kong’s Hang Seng Index<\/a> was set to open flat, with its futures contract last traded at 26,535, against the index’s previous close of 26,545.1.<\/p>\n U.S. equity futures were little changed in early Asian hours following a strong week for the major averages. The Dow Jones Industrial Average and S&P 500 closed at fresh all-time highs as the Fed’s rate cut set in investors’ minds.<\/p>\n Markets are now pricing in two more quarter-point cuts between now and the end of the year, according to the CME FedWatch Tool.<\/p>\n On Friday stateside, the\u00a0Dow Jones Industrial Average<\/a>\u00a0added 172.85 points, or 0.37%, to close at 46,315.27, reaching a fresh record high. The\u00a0S&P 500<\/a>\u00a0settled up 0.49% at 6,664.36, while the\u00a0Nasdaq Composite<\/a>\u00a0advanced 0.72% to finish at 22,631.48.<\/p>\n \u2014 CNBC’s Sarah Min, Pia Singh and Alex Harring contributed to this report.<\/p>\n","protected":false},"excerpt":{"rendered":"TOKYO, JAPAN – JULY 27: Pedestrians and shoppers walk through the Akihabara area on July 27, 2023 in…\n","protected":false},"author":2,"featured_media":35782,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[3739,2339,138,553,3738,3737,3742,3508,3743,220,111,139,3746,69,1215,1216],"class_list":["post-35781","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-asia-economy","tag-breaking-news-markets","tag-business","tag-business-news","tag-central-banking","tag-currency-markets","tag-hang-seng-index","tag-interest-rates","tag-kospi-index","tag-markets","tag-new-zealand","tag-newzealand","tag-nikkei-225-index","tag-nz","tag-world-economy","tag-world-markets"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/35781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=35781"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/35781\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/35782"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=35781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=35781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=35781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}