On Monday, Asia-Pacific shares were cautious as traders reacted to the release of China’s latest benchmark lending rate.
Accordingly, the Chinese one-year loan prime rate remained at 3.70%. This figure was essentially in line with analysts’ expectations.
Nevertheless, investors were disappointed as they searched for signs of other policies that would sustain a recent rally.
In Hong Kong, the benchmark Hang Seng lost 0.17% or 36.91 points to 21,375.49 level. The city’s gauge closed more than 7.04% higher last week following a volatile week.
Subsequently, Haidilao, a restaurant company, slashed 6.64% or 0.12 points to $1.65 per share.
At the same time, property development firm Country Gardens plummeted 4.44% or 0.03 points to $0.69 per share.
Likewise, Meituan, an online delivery business, declined 4.24% or 0.83 points to $18.76 per share.
Then, trading in the Hong Kong-listed shares of China Evergrande halted in the current session.
There is no immediate reason given for the pause.
Consequently, Hang Seng Properties, a gauge tracking Chinese real estate developers, decreased 1.32% or 394.50 points to the 29,467.59 level.
In South Korea, KOSPI edged down 0.39% or 10.58 points to the 2,696.44 level. It underperformed other indexes in the Asia-Pacific shares.
Among the heavyweights, chip giant Samsung Electronics slipped 0.71% or 0.41 points to $57.84 per share.
Eventually, leading semiconductor firm SK Hynix lost 1.61% or 1.65 points to $100.52 per share.
Conversely, battery maker LG Energy solutions gained 2.62% or 8.24 points to $322.97 per share.
This notable upturn came after the reports that the company will build a new planned battery plant in Ontario, Canada, together with Stellantis.
Asia-Pacific shares mixed; Shenzhen, Nikkei 225 up
Meanwhile, mainland Chinese stocks supported gains in the Asia Pacific shares.
The Shenzhen Component index increased 0.43% or 52.88 points to the 12,381.53 level. Then, the benchmark Shanghai Composite also rose 0.02% or 0.51 points to the 3,251.58 level.
In Japan, the Nikkei 225 index added 0.65% or 174.54 points to the 26,827.43 level. Similarly, the broader TOPIX improved 0.54% or 10.26 points to the 1,909.27 level.
In Australia, the S&P/ASX 200 climbed 0.05% or 3.30 points to the 7,297.70 level.
Markets also remained on guard over developments relating to the war between Russia and Ukraine.
Accordingly, traders kept an eye close to the meeting of Presidents Xi Jinping and Joe Biden on Friday.
Overall, the MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.30% or 1.80 points to the 581.41 level.
Read also: Vlom review | Is it a good Forex broker?
