Focus on China loan prime rates and RBA minutes as Asia-Pacific markets rise.

Focus on China loan prime rates and RBA minutes as Asia-Pacific markets rise.
Focus on China loan prime rates and RBA minutes as Asia-Pacific markets rise.
  • The Reuters poll predicts that China's central bank will not alter its one-year and five-year loan prime rates during its announcement today.
  • The Reserve Bank of Australia's August meeting minutes will also be evaluated by investors.

Markets in the Asia-Pacific region surged on Tuesday, mirroring the gains on Wall Street and anticipating economic data from China.

The People's Bank of China will reveal its one-year and five-year loan prime rates, with a survey of Reuters economists predicting that the one-year LPR will remain at 3.35% and the five-year rate will stay at 3.85%.

The five-year LPR is typically used as a reference rate for mortgages, while the one-year LPR is commonly utilized as a benchmark for corporate loans.

The Reserve Bank of Australia's August meeting minutes will also be evaluated by investors, as the bank maintained its benchmark interest rate at 4.35% while acknowledging that inflation persists above the target.

While the broad-based Topix rose by 0.78%, Japan's stock market gained 1.1%.

The small-cap Kosdaq rose 1.19%, while South Korea's GDP growth was 0.99% higher.

Australia's S&P/ASX 200 climbed 0.48% ahead of the RBA release.

The future of Hong Kong's stock market is predicted to rise, with the HSI standing at 17,741, up from its last close of 17,569.57.

In the U.S., the S&P 500 and Nasdaq recorded their eighth consecutive victories as all three major indexes progressed.

While the Dow Jones Industrial Average increased by 0.58%, the S&P 500 rose by 0.97%, and the tech-heavy Nasdaq Composite experienced a significant jump of 1.39%.

—CNBC's Alex Harring and Samantha Subin contributed to this report.

by Lim Hui Jie

Markets