{"id":65053,"date":"2023-08-21T17:29:55","date_gmt":"2023-08-21T07:29:55","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=65053"},"modified":"2025-11-11T15:36:03","modified_gmt":"2025-11-11T04:36:03","slug":"monday-21st-august-2023-asia-pacific-markets-react-to-chinas-lpr-adjustments-and-varied-global-trends","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/monday-21st-august-2023-asia-pacific-markets-react-to-chinas-lpr-adjustments-and-varied-global-trends\/","title":{"rendered":"Monday 21st August 2023: Asia-Pacific Markets React to China&#8217;s LPR Adjustments and Varied Global Trends"},"content":{"rendered":"\n<h3>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 0.29%, Shanghai Composite down 1.24%, Hang Seng down 1.42%, ASX down 0.46%<\/li>\n\n\n\n<li>Commodities : Gold at $1917.50 (+0.04%), Silver at $22.85 (+0.51%), Brent Oil at $85.58 (+0.97%), WTI Oil at $81.42 (+0.94%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.285, UK 10-year yield at 4.727, Germany 10-year yield at 2.625<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(EUR) Final Core CPI y\/y 5.5% vs 5.5% expected<\/li>\n\n\n\n<li>(EUR) Final CPI y\/y 5.3% vs 5.3% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets displayed a diverse range of outcomes following China&#8217;s decision on Monday to lower its one-year loan prime rate (LPR), while maintaining stability in the five-year rate. The one-year LPR saw a reduction of 10 basis points, settling at 3.45%, whereas the five-year LPR remained constant at 4.2%, serving as a reference point for mortgage rates.<\/p>\n\n\n\n<p>Market analysts, in a survey conducted by Reuters, had unanimously predicted rate cuts in both categories, responding to China&#8217;s unexpected decrease in the medium-term lending facility rate the previous week. However, Hong Kong&#8217;s Hang Seng index slipped by 1.42%, paralleled by a 0.68% decline in mainland Chinese markets represented by the CSI 300.<\/p>\n\n\n\n<p>Conversely, some markets performed well. In Australia, the S&amp;P\/ASX 200 declined by 0.46%, hitting its lowest point since July 11 at 7,115.5. Japan&#8217;s Nikkei 225 rebounded, ending with a 0.29% gain at 31,565.64, accompanied by a 0.24% rise in the Topix index, which finished at 2,241.49. South Korea&#8217;s Kospi halted its six-day losing streak with a 0.17% increase to reach 2,508.8, and the Kosdaq surged by 1.3% to close at 888.71.<\/p>\n\n\n\n<p>In the United States on Friday, the major indices depicted mixed results. The Dow Jones Industrial Average increased by 0.07%, while the S&amp;P 500 experienced a marginal 0.01% dip, and the Nasdaq Composite slipped by 0.2%. This marked the third consecutive week of losses for both the S&amp;P and Nasdaq, a trend not observed since February and December respectively.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>10:00 AM GMT &#8211; EUR German Buba Monthly Report<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD NHPI m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets displayed a [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":79815,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[196,215,339],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/65053"}],"collection":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=65053"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/65053\/revisions"}],"predecessor-version":[{"id":65065,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/65053\/revisions\/65065"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/79815"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=65053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=65053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=65053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}