On Monday morning (21 April, 9:30 AM, GMT+7, Bangkok time), indices in Asia Pacific traded mixed, with the People’s Bank of China (PBOC) maintaining rates amidst pressure on the yuan stemming from trade tensions between Beijing and Washington.
China’s central bank opted to retain its loan prime rates (LPR) steady, maintaining the 1-year LPR at 3.1% and the 5-year at 3.6% as part of efforts to support the stability of the yuan amidst trade disputes with the U.S. This move coincides with China’s release of economic data exceeding expectations this month, revealing a year-on-year growth of 5.4% in first-quarter GDP.
Markets in Australia and Hong Kong were closed for a holiday.
Japan’s NIKKEI slumped by 1.03% to 34,370.9, while South Korea’s KOSPI climbed by 0.16% to 2,487.49.
As for stocks in China, Shanghai’s SSEC rose by 0.52% to 3,293.71, and Shenzhen’s SZI grew by 0.56% to 9,836.18.
Meanwhile, the US stock markets were closed on Friday due to the Good Friday holiday.
As for commodities, oil prices decreased on Monday as discussions between the United States and Iran regarding the nuclear deal advanced, alleviating worries over potential disruptions in supply from the primary Middle Eastern oil producer. Brent futures declined 70 cents or 1.03% to $67.26 a barrel at 0030 GMT, and the West Texas Intermediate (WTI) dropped 68 cents or 1.05% to $64 per barrel.
This morning, Brent futures plummeted $1.12 or 1.65% to $66.84 a barrel, and the WTI lost $1.09 or 1.69% to $63.59 per barrel.
Meanwhile, gold futures soared by 1.93% to $3,392.7 per Troy ounce.
