Japan stocks set to trade higher; China keeps benchmark lending rate unchanged

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SINGAPORE — Stocks in Japan were set to rise at the Monday open as China left its benchmark lending rate unchanged over the weekend.

Futures pointed to a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 30,195 while its counterpart in Osaka was at 30,180. That compared against the Nikkei 225’s last close at 30,017.92.

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Meanwhile, shares in Australia were little changed in morning trade as the S&P/ASX 200 hovered above the flatline.

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China kept the one-year loan prime rate (LPR) unchanged at 3.85%, largely in line with expectations of traders and analysts in a Reuters snap poll. The five-year LPR was also kept steady at 4.65%.
The LPR is a lending reference rate set monthly by 18 banks.

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Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.334 after a recent decline from above 90.9.

The Japanese yen traded at 105.59 per dollar, stronger than levels above 106 against the greenback seen in the middle of last week. The Australian dollar changed hands at $0.787 after a jump late las week from around $0.776.

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(With Inputs from cnbc)

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