Latest News Stocks in Australia poised to open lower; China set...

Stocks in Australia poised to open lower; China set to announce loan prime rates

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Stocks in Australia were set to trade lower at the open as investors await the release of China’s benchmark lending rate.

The SPI futures contract was at 5,836.0, as compared to the S&P/ASX 200’s last close at 5,864.50.

Markets in Japan are closed on Monday for a holiday.

China’s one-year and five-year Loan Prime Rate (LPR) are set to be out at around 9:30 a.m. HK/SIN on Monday. A majority of traders and analysts polled by Reuters expect no change to both the one-year and five-year LPR. The one-year LPR is currently at 3.85% while the five-year rate sits at 4.65%.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.962 after last week’s decline from levels above 93.3.

The Japanese yen traded at 104.52 per dollar after strengthening in the previous trading week from levels above 105.6 against the greenback. The Australian dollar changed hands at $0.7294 after trading last week between levels above $0.732 and below $0.729.

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Here’s a look at what’s on tap:

  • China: One-year Loan Prime Rate and five-year LPR release at 9:30 a.m. HK/SIN

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