Asian stocks mixed as China introduces new loan price rates

Tuesday, 20. August 2019 07:55

Asian stocks were higher on Tuesday after China officially announced the introduction of its new loan prime rates (LPR) which are supposed to decrease borrowing costs for firms. The trade war remained a hot topic as United States Vice President Mike Pence conditioned a trade deal between Washington and Beijing with "the integrity of Hong Kong" and Huawei urged the US to stop the "unjust treatment" it has been receiving. Meanwhile, Hong Kong Chief Executive Carrie Lam stressed that there are no plans to revive the extradition bill that was the trigger for the Hong Kong protests.

The Shenzhen composite was 0.03% in the green at 7:46 am CET and the Shanghai Composite decreased 0.07% at 7:47 am CET. The Hang Seng was flat at 7:49 am CET.

Japan's Nikkei 225 rose 0.52% at 7:48 am CET.

The S&P/ASX 200 in Australia jumped 1.01% as the Reserve Bank of Australia announced it is prepared for easing in the future, if needed. Meanwhile, South Korea's Kospi increased 1.1% at 7:51 am CET.

The dollar lost 0.09% against the yen to go for 106.54 at 7:53 am CET.

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Author:
Breaking the News / VP