Asia trades lower as China keeps benchmark lending rate

Thursday, 20. August 2020 04:40

Major stock markets in the Asia-Pacific region traded lower on Thursday as China announced no changes to its benchmark lending rate, with the one-year loan prime rate (LPR) kept at 3.85%, while the five-year LPR was on hold at 4.65%. Also, it is expected that the US and China hold a video conference in the coming days in order to discuss the implementation of the phase one trade deal.

Kospi Composite fell by 2.70% at 4:36 am CET, and Australia's S&P/ASX 200 dropped 1.03%. Hang Seng fell by 1.97%, while the Nikkei 225 fell by 0.70% two minutes later. In mainland China, the Shanghai Composite declined 0.86%, and the Shenzhen Composite tumbled 1.10% at 4:38 am CET.

The dollar traded flat against the yen, selling for ¥106.0830 at 4:38 am CET.

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