Asia-Pacific markets climbed Monday as investors parsed China’s central bank’s decision to keep its loan prime rates steady.
The Nikkei 225 popped 895.13 points, or 1.8%, to 50,402.39. The Bank of Japan raised its policy rate by 25 basis points to 0.75% —a three-decade high— last Friday.
In Hong Kong, the Hang Seng climbed 111.24 points, or 0.4%, to 25,801.77.
CHINA
The CSI 300 in Shanghai added 43.45 points, or 1%, to 4,611,62.
The People’s Bank of China kept its one-year and five-year loan prime rates unchanged at 3% and 3.5% respectively, holding them for a seventh straight meeting, in line with a Reuters survey. The one-year rate influences most new and outstanding loans, while the five-year benchmark affects mortgages.
In other markets
In Korea, the Kospi moved higher 85.38 points, or 2.1%, to 4,105.93
In Singapore, the Straits Times Index advanced 40.51 points, or 0.9%, to 4,610.29.
In Taiwan, the Taiex galloped 453.29 points, or 1.6%, to 28.149.64.
In New Zealand, the NZX 50 zoomed 174.90 points, or 1.3%, to 13,508.30.
In Australia, the ASX 200 picked up 78.55 points, or 0.9%, to 8,699.90.
