Melbourne city center skyline along the Yarra River.
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Asia-Pacific stocks climbed across the board on Tuesday, tracking gains on Wall Street ahead of key economic data from China.
China’s central bank to announce one-year and five-year loan preferential rates, from economists’ survey Reuters expected to hold one-year LPR The interest rate is 3.35% and the five-year rate is 3.85%.
The one-year LPR serves as the benchmark for most corporate loans, and the five-year LPR serves as the reference interest rate for mortgage loans.
Investors will also be assessing the minutes from the Reserve Bank of Australia’s August meeting. At its meeting on August 7, the bank kept its benchmark interest rate at 4.35% but noted that “inflation remains above target and persists.”
Japanese Nikkei 225 Index rose 1.1%, while the Topix gained 0.78%.
Korean Cospi rose 0.99%, with the Kosdaq index of small-cap stocks gaining 1.19%.
According to South Korean media reports, the country’s consumer confidence index fell to 100.8 in August from a two-year high of 103.6. Yonhap News Agency reported that This was “due to the U.S. recession and subsequent stock market crash.” A number above 100 means there are more optimists than pessimists.
Australia’s S&P/ASX 200 index rose 0.48% ahead of the release of data from the Reserve Bank of Australia.
Hong Kong Hang Seng Index Futures also pointed to a higher opening, with the Hang Seng Index last closing at 17,569.57 points and opening at 17,741 points.
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