SINGAPORE — Stocks in Japan were set to open lower on Monday as investors in Asia-Pacific wait for the release of China’s benchmark lending rate.
Futures pointed to a lower open for Japanese stocks, with the Nikkei futures contract in Chicago at 29,280 while its counterpart in Osaka was at 29,330. That compared against the Nikkei 225’s last close at 29,792.05.
Meanwhile, shares in Australia were slightly higher in morning trade, with the S&P/ASX 200 up 0.21%.
China’s one-year Loan Prime Rate (LPR) and five-year LPR are set to be released at around 9:30 a.m. HK/SIN on Monday. Majority of traders and analysts in a snap Reuters poll expect both the rates to remain unchanged at 3.85% and 4.65%, respectively.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.051 after its recent recovery from levels below 91.5.
The Japanese yen traded at 108.88 per dollar, stronger than levels above 109.2 against the greenback seen last week. The Australian dollar changed hands at $0.7728, lower than levels below $0.78 seen last week.
Investors are watching the Turkish lira on Monday after the country’s central bank saw yet another upheaval, with President Recep Tayyip Erdogan abruptly replacing its chief just days after a sharp interest rate hike. The currency last stood at 7.2169 against the greenback, as compared to levels above 7.4 per dollar seen last week.
Here’s a look at what’s on tap:
- China: One-year LPR and five-year LPR at 9:30 a.m. HK/SIN
(With Inputs from cnbc)
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