China loan prime rates are awaited by investors, causing Asia markets to open lower.
- The five-year loan rate is typically used as a reference point for property mortgages, while the one-year rate is commonly used as a benchmark for most corporate and household loans.
- Currently, the one-year LPR is 3.45%, and the five-year LPR is 3.95%.
Investors awaited China's one- and five-year loan prime rates, which caused Asia-Pacific markets to fall on Thursday.
The five-year loan prime rate is commonly used as a reference for property mortgages, while the one-year rate is typically used for corporate and household loans. Currently, the one-year loan prime rate is 3.45%, and the five-year rate is 3.95%.
This week, the People's Bank of China maintained the rate of the 1-year medium-term lending facility at 2.5%.
The futures market in Japan opened weaker, with the Chicago contract at 38,370 and the Osaka contract at 38,340, compared to the previous close of 38,570.26.
The S&P/ASX 200 futures for Australia were at 7,752, a slight decrease from its previous close of 7,769.7.
The HSI's last close was higher than Hong Kong futures, which were at 18,391.
On Wednesday, U.S. markets were closed for a holiday. Meanwhile, S&P 500 and Nasdaq Composite futures rose by 0.04% and 0.19%, respectively, while Dow Jones Industrial Average futures fell by 0.17%.
Markets
You might also like
- Japan's stocks are declining following Shigeru Ishiba's victory.
- The last trading session of September in Europe is expected to begin with a decline.
- Major cities in China ease homebuying restrictions, prompting a rally in property stocks.
- Japan's Nikkei drops by 3%, while Australia reaches a new record high, as investors anticipate the release of China's data.
- Blockchain technology could revolutionize the ETF industry by enabling the use of treasurys as assets.