Visitors stand in front of an electronic bar at the Tokyo Stock Exchange (TSE), operated by the Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Monday, November 30, 2020.
Toru Hanai | Bloomberg via Getty Images
Most stocks in the Asia-Pacific region fell on Monday as worries about Fed hikes returned, but Chinese markets rose after China lowered lending rates.
The Shanghai boat It was 0.61% higher at 3277.79 and Shenzhen Component Gain 1.19% to 12505.68.
China’s central bank cut its one-year benchmark lending rate by 5 basis points to 3.65% and the five-year benchmark rate by 15 basis points to 4.3%.
“We believe the asymmetric cuts … are intended to support long-term borrowing especially mortgages, as public credit supply remains plentiful while credit demand slows,” analysts said in a Goldman Sachs Economic Research note on Monday.
Elsewhere in Asia, Hong Kong Hang Seng Index It was down 0.6% in the last hour of trading.
The Nikkei 225 In Japan trimmed some losses but fell 0.47% to 28794.5 and Topix fell 0.1% to 1,992.59.
South Korea Cosby The KOSDAQ Index lost 1.21% to 2462.5, and the KOSDAQ Index lost 2.25% to 795.87.
The S & P / ASX 200 In Australia it fell 0.95% to end the session at 7046.9.
MSCI’s broadest index of Asia Pacific shares outside Japan was 0.95% lower.
“Fed speakers have recently been emphasizing the message that more rate hikes are coming as the fight against inflation has not yet been won,” Rodrigo Cattrell, a currency analyst at National Australia Bank, wrote in a note on Monday.
Investors are looking forward to the Federal Reserve’s annual Jackson Hole Economic Symposium, which begins Thursday in the United States.
More Stories
JPMorgan expects the Fed to cut its benchmark interest rate by 100 basis points this year
Shares of AI chip giant Nvidia fall despite record $30 billion in sales
Nasdaq falls as investors await Nvidia earnings