Asian markets opened in the green this Friday with the Japanese Nikkei looking to end the week with a flourish as it closes well above 22000. The unrest in Hong Kong and slow growth in India is seeing foreign investors sell both the markets while others see traction.
The People’s Bank of China published its new loan prime rates (LPR) on Friday, with the 1-year loan prime rate was cut to 4.2%, as compared to 4.25% a month ago and the 5-year loan prime rate was unchanged from the previous month at 4.85%.
Elsewhere, Hong Kong listed shares of Chinese lenders rose in the morning, with Hang Seng, Kospi and Taiwan Weighted being up in today’s trade.
US stocks see profit booking in the last hour to end in the red. Dow Jones flirts within 100 points of all-time highs. Bond yields drift as markets balance rate cut with higher oil prices as US$ sees weakness. Microsoft hits fresh all-time highs as market cap crosses a trillion $.