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Asian shares rise on Monday over key interest rate decisions from major central banks
(MENAFN) Asian Stocks mostly rose on Monday, buoyed by key interest rate decisions from major central banks last week, including the U.S. Federal Reserve, Bank of Japan, People's Bank of China, and the Bank of England. U.S. stock futures and oil prices also saw an upward trend, reflecting positive market sentiment.
In China, stocks were boosted after the central bank lowered its 14-day reverse repurchase rate from 1.95 percent to 1.85 percent, following last week’s decision to keep major lending rates unchanged. This move surprised some market participants, who had been anticipating a cut in key lending rates. As a result, the Hang Seng index in Hong Kong increased by 0.8 percent to reach 18,403.37, while the Shanghai Composite index rose by 0.7 percent to 2,755.89.
Meanwhile, Japanese stock markets were closed due to a public holiday, but the Bank of Japan’s monetary policy remained in focus after it decided to maintain its benchmark interest rate at 0.25 percent. This decision led to a weakening of the Japanese yen, which fell from last week's high of around 140 per U.S. dollar to trade at 144.36 yen on Monday.
Elsewhere in the Asia-Pacific region, Australia's S&P/ASX 200 dropped by 0.5 percent to 8,170.50, as the Reserve Bank of Australia kicked off a two-day policy meeting. In South Korea, the Kospi edged up by 0.2 percent, reaching 2,599.22. Meanwhile, U.S. markets saw mixed results on Friday: the S&P 500 slipped 0.2 percent to 5,702.55, the Nasdaq Composite fell 0.4 percent to 17,948.32, while the Dow Jones Industrial Average climbed 0.1 percent to a record high of 42,063.36.
In China, stocks were boosted after the central bank lowered its 14-day reverse repurchase rate from 1.95 percent to 1.85 percent, following last week’s decision to keep major lending rates unchanged. This move surprised some market participants, who had been anticipating a cut in key lending rates. As a result, the Hang Seng index in Hong Kong increased by 0.8 percent to reach 18,403.37, while the Shanghai Composite index rose by 0.7 percent to 2,755.89.
Meanwhile, Japanese stock markets were closed due to a public holiday, but the Bank of Japan’s monetary policy remained in focus after it decided to maintain its benchmark interest rate at 0.25 percent. This decision led to a weakening of the Japanese yen, which fell from last week's high of around 140 per U.S. dollar to trade at 144.36 yen on Monday.
Elsewhere in the Asia-Pacific region, Australia's S&P/ASX 200 dropped by 0.5 percent to 8,170.50, as the Reserve Bank of Australia kicked off a two-day policy meeting. In South Korea, the Kospi edged up by 0.2 percent, reaching 2,599.22. Meanwhile, U.S. markets saw mixed results on Friday: the S&P 500 slipped 0.2 percent to 5,702.55, the Nasdaq Composite fell 0.4 percent to 17,948.32, while the Dow Jones Industrial Average climbed 0.1 percent to a record high of 42,063.36.
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