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Asian markets end mostly in green on China rate cut

24 Nov 2014 Evaluate

All the Asian equity benchmarks barring, Straits Times, ended higher on Monday as sentiments remained up-beat by an unexpected rate cut announcement from the Chinese central bank last Friday. The People’s Bank of China cut one-year benchmark lending rates by 40 basis points to 5.6 percent. Moreover, China’s leadership and central bank are ready to cut interest rates again and also loosen lending restrictions, concerned that falling prices could trigger a surge in debt defaults, business failures and job losses. Recovery in commodity prices and comments from the European Central Bank President Mario Draghi that more stimulus is likely from the ECB to spur eurozone economic growth are also aiding sentiment. The Japanese market remained shut for the trade today for Labour Thanksgiving Day Holiday.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2532.88

46.09

1.85

Hang Seng

23893.14

456.02

1.95

Jakarta Composite

5141.76

29.72

0.58

KLSE Composite

1833.77

24.64

1.36

Nikkei 225

--

--

--

Straits Times

3340.53

-4.79

-0.14

KOSPI Composite

1978.54

13.70

0.70

Taiwan Weighted

9122.33

30.80

0.34

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