Asia-Pacific market indices start the new week higher
Istanbul, Dec. 22 (Hibya) – Asia-Pacific markets opened the first trading day of the new week higher as investors assessed the Chinese central bank’s decision to keep loan interest rates unchanged.
The People’s Bank of China left the one-year and five-year loan prime rates unchanged at 3% and 3.5%, respectively, for the seventh consecutive meeting. The one-year rate affects most new and existing loans, while the five-year benchmark rate influences mortgages.
Hong Kong’s Hang Seng Index rose 0.55%, while mainland China’s CSI 300 gained 0.55%. Australia’s S&P/ASX 200 advanced 0.54%.
Japan’s Nikkei 225 climbed 1.58% and the Topix rose 0.86%. The Bank of Japan raised its policy rate by 25 basis points to 0.75% last Friday, the highest level in 30 years. South Korea’s Kospi gained 1.83%, while the small-cap Kosdaq rose 0.99%.
In the US, stocks rose for a second straight day last Friday, supported by Oracle, as AI-related trading rebounded after volatility.
Oracle shares jumped 6.6% after TikTok agreed to sell its US operations to a new joint venture that includes the software giant and private-equity investor Silver Lake.
The Nasdaq Composite closed up 1.31% at 23,307.62. The S&P 500 ended 0.88% higher at 6,834.50. The Dow Jones Industrial Average rose 183.04 points, or 0.38%, to close at 48,134.89.
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