The Central Bank of the People’s Republic of China is responsible for formulating and implementing monetary policies, preventing and resolving financial risks, and maintaining financial stability.
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Asia-Pacific markets were mixed on Monday as traders awaited the announcement of China’s preferential lending rate and focused on this weekend’s Japanese election.
The People’s Bank of China is expected to cut the one-year and five-year LPR by 20 basis points ING’s Notes and echo statement made Pan Gongsheng, governor of the People’s Bank of China, gave a speech on Friday.
ING also pointed out that the People’s Bank of China may issue a mid-term lending rate decision on Friday, but it is expected to remain unchanged at 2% after a 30 basis point cut last month.
“Beyond the data, it will be interesting to watch whether there are further government briefings or a possible announcement on the timing of the National People’s Congress meeting in the week ahead, as the rollout of stimulus measures remains a major theme in the market,” ING said.
Other key economic data this week will include October inflation data from Japan’s capital Tokyo, as well as South Korea’s third-quarter GDP data.
Japan’s benchmark Nikkei 225 Index It fell slightly, while the Topix fell 0.11%.
Korean Cospi Up 0.22%, the small-cap Kosdaq index fell slightly.
Australian S&P/ASX 200 Index It opened up 0.64% on the day.
Hong Kong’s Hang Seng Index futures were quoted at 20,782 points, opening weaker than the Hang Seng Index’s closing point of 20,804.11 points.
In the United States, the S&P 500 and Dow Jones Industrial Average soared to record highs on Friday, extending their gains to six straight weeks.
The broad market benchmark rose 0.40% to close at 5,864.67 points; the blue-chip Dow Jones Industrial Average rose 36.86 points, or 0.09%, to close at 43,275.91 points.
The Nasdaq closed up 0.63% on the day at 18,489.55 points, driven by a post-profit gain from Netflix.
—CNBC’s Lisa Kailai Han and Alex Harring contributed to this report.
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