SINGAPORE – Japan stocks should open lower on Monday as Asia-Pacific investors await the China rate release.
Futures indicated a lower open for Japanese stocks, with the Nikkei futures contract trading at 29,280 in Chicago while its Osaka counterpart trading at 29,330. This is compared to the Nikkei 225’s last closing price at 29,792.05.
Meanwhile, Australian stocks were slightly higher in morning trade, with the S & P / ASX 200 up 0.21%.
China’s one-year loan prime rate (LPR) and five-year LPR will be released around 9:30 a.m. HK / SIN on Monday. The majority of traders and analysts in a Reuters quick poll expect both interest rates to remain unchanged at 3.85% and 4.65%, respectively.
Currencies
The US dollar index, which tracks the greenback versus a basket of its peers, hit 92.051 following its recent rebound from levels below 91.5.
The Japanese yen was trading at 108.88 per dollar, stronger than above 109.2 against the greenback last week. The Australian dollar changed hands at $ 0.7728, down from the $ 0.78 level seen last week.
Investors are watching the Turkish lira on Monday after the country’s central bank experienced another upheaval. President Recep Tayyip Erdogan abruptly replaces his boss just days after a sharp rate hike. The currency was last at 7.2169 against the greenback, compared to levels above 7.4 per dollar seen last week.
Here’s a look at what’s on tap:
- China: One-year LPR and five-year LPR at 9:30 am HK / SIN