01/15/2024 – 5:40
By Sergio Caldas*
São Paulo, 01/15/2024 – Stock markets in Asia and the Pacific closed without a single direction this Monday, amid speculation about the next steps of China's monetary policy after maintaining local interest rates.
In Chinese markets, the Shanghai Composite index rose 0.15% to 2,886.29 points, while the less comprehensive Shenzhen Composite index fell 0.33% to 1,743.58 points.
Contrary to expectations of a reduction, the Chinese central bank (PBoC) left the interest rates on its medium-term credit line (1 year) and 7-day reverse repurchase contracts (repos) unchanged today, at 2.5% and 1.8%, respectively. In a note to clients, ANZ bank says that maintaining the medium-term rate “means that the chance of a cut (in the bank reserve requirement rate) in February is greater now”.
Elsewhere in Asia, the Japanese Nikkei rose 0.91% in Tokyo, to 35,901.79 points, renewing its highest since February 1990, while the Hang Seng fell 0.17% in Hong Kong, to 16,216.33 points, the Kospi had a marginal gain of 0.04% in Seoul, at 2,525.99 points, interrupting a sequence of eight negative trading sessions, and Taiex advanced 0.19% in Taiwan, at 17,546.82 points, after the election as president, in weekend, by Lai Ching-te, who promised to defend the island's de facto independence from China.
In Oceania, the Australian stock market was slightly in the red, pressured by the weakness of mining shares. The S&P/ASX 200 had a slight loss of 0.03% in Sydney, at 7,496.30 points.
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*With information from Dow Jones Newswires
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