Asian markets traded mostly higher in early deals on Monday, kindled by the steady lending rates from the People's Bank of China, positive sentiment from US markets, and strong earnings reports from the region, despite ongoing trade tensions. China’s Shanghai composite index marked multi-month highs after central bank’s attempts to stem the economy amid soft consumer sentiment and slowing growth. The one-year loan prime rate, which guides most corporate and household lending, was held at 3.0%, while the five-year LPR, a benchmark for mortgage rates, remained at 3.5%. Japan’s Nikkei is closed for Marine day holiday.
Hang Seng rose by 47.09 points or 0.19% to 24,872.75, Straits Times jumped by 18.23 points 0.44% to 4,207.73, Jakarta Composite added by 63.88 points or 0.87% to 7,375.80, KOSPI Index dipped by 21.22 points or 0.67% to 3,209.29 and Shanghai Composite buoyed by 17.82 points or 0.50% to 3,552.30
On the flip side, Taiwan Weighted declined by 52.03 points or 0.22% to 23,331.10, and FTSE Bursa Malaysia KLCI down 5.27 points or 0.35% to 1,520.59.
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