Asia markets live: China LPR, Japan CPI
The central bank of the People’s Republic of China is responsible for formulating and implementing monetary policies, preventing and defusing financial risks and maintaining financial stability.
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Asia-Pacific markets mostly fell on Friday as investors digest inflation data out of Japan, as well as an interest rate decision out of China.
The People’s Bank of China held its loan prime rates steady on Friday, leaving the one-year rate unchanged at 3.1% and the five-year rate at 3.6%.
The one-year LPR influences corporate loans and most household loans in China, while the five-year LPR serves as a benchmark for mortgage rates.
Hong Kong’s Hang Seng index was flat in its final hour of trade, while mainland China’s CSI 300 dropped 0.45% to close at 3,927.74.
Japan also released its November inflation numbers, a day after the Bank of Japan held rates at 0.25%.
The core inflation rate in the country — which strips out prices of fresh food — came in at 2.7%, slightly higher than the 2.6% expected from economists polled by Reuters
Headline inflation came in at 2.9%, higher than the 2.3% seen in October.
Japan’s Nikkei 225 fell 0.29% after the inflation reading and closed at 38,701.9, while the broad-based Topix slipped 0.44% and finished at 2,701.99.
South Korea’s Kospi was down 1.3% to end at 2,404.15, and the small cap Kosdaq lost 2.35% to 668.31, leading Asian losses.
Australia’s S&P/ASX 200 fell 1.24% to close at 8,067, its lowest closing level since September.
Overnight in the U.S., the Dow Jones Industrial Average narrowly snapped its longest losing streak since 1974 on Thursday.
The 30-stock Dow added 0.04%, but other major U.S. indexes fell, with the S&P 500 down 0.09% and the Nasdaq Composite falling 0.10%.
The 10-year Treasury yield also rose for a second day, topping 4.5% and pressuring stocks. The benchmark yield surged more than 13 points in the previous session.
— CNBC’s Brian Evans and Pia Singh contributed to this report.
