Current:Home > StocksStock market today: Asian shares trade mixed after Wall Street was closed for a holiday -ValueCore
Stock market today: Asian shares trade mixed after Wall Street was closed for a holiday
View
Date:2025-04-16 21:33:10
TOKYO (AP) — Asian shares were trading mixed Tuesday on the second day Chinese markets were open after the Lunar New Year break.
Wall Street trading was closed Monday in the United States for President’s Day. Investors were generally turning less optimistic because of expectations that higher interest rates would likely kick in soon.
China’s central bank kept its 1-year loan prime rate unchanged on Tuesday but cut its 5-year rate by 25 basis points to 3.95%. That came as a surprise, the first time the five-year rate was cut since May 2023.
“The cut to the five-year LPR is likely aimed at supporting the recovery of the property market, and could improve affordability for buyers by lowering the mortgage rates,” said Lynn Song, chief economist at ING.
Benchmarks rose in China, but slipped in Tokyo, Sydney and Seoul. Oil prices rose.
Hong Kong’s Hang Seng gained 0.2% to 16,189.74, while the Shanghai Composite rose 0.4% to 2,921.39.
Japan’s benchmark Nikkei 225 declined 0.3% in afternoon trading to 38,363.61.
Australia’s S&P/ASX 200 slipped less than 0.1% to 7,659.00. South Korea’s Kospi lost nearly 1.0% to 2,654.83.
A recent U.S. report on inflation at the wholesale level has indicated that rising prices still continues. Such data tend to squelch hopes that the Federal Reserve could begin cutting interest rates in March.
In energy trading, U.S. benchmark crude added 30 cents to $79.49 a barrel. Brent crude, the international standard, shed 1 cent to $83.55 per barrel.
In currency trading, the U.S. dollar rose to 150.36 Japanese yen from 150.10 yen. The euro cost $1.0775, down from $1.0783.
veryGood! (76)
Related
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Two suspects are dead after separate confrontations with police in Missouri
- Selena Gomez Celebrates Her Relationship Status in New Song Single Soon
- Miley Cyrus Reveals Why Filming Used to Be Young Was So Emotional
- All That You Wanted to Know About She’s All That
- Lionel Messi, Inter Miami face New York Red Bulls in MLS game: How to watch
- Woman allegedly kidnapped by fake Uber driver rescued after slipping note to gas station customer
- This week on Sunday Morning (August 27)
- Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
- Selling the OC’s Season 2 Trailer Puts a Spotlight on Tyler Stanaland and Alex Hall’s Relationship
Ranking
- This was the average Social Security benefit in 2004, and here's what it is now
- Among last of Donald Trump's co-defendants to be booked: Kanye West's former publicist
- Armed with traffic cones, protesters are immobilizing driverless cars
- Court won’t revive lawsuit that says Mississippi officials fueled lawyer’s death during Senate race
- DoorDash steps up driver ID checks after traffic safety complaints
- Coroner: Toddler died in hot car parked outside South Carolina high school
- Cowboys acquiring QB Trey Lance in trade with 49ers
- Fire breaks out at Louisiana refinery; no injuries reported
Recommendation
Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
Pac-12 college football preview: USC, Utah among favorites in last season before breakup
Bachelor in Paradise Season 9 Reveals First Look: Meet the Bachelor Nation Cast
List of NFL players suspended for violating gambling policies
Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
Harris is welcoming Las Vegas Aces to the White House to celebrate team’s 2022 WNBA championship
North American grassland birds in peril, spurring all-out effort to save birds and their habitat
Missing North Carolina woman's body believed found; boyfriend charged with murder