A currency trader walks by the screen showing the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Monday, May 20, 2024. Asian stocks advanced Monday after U.S. stock indexes drifted near their records and the Dow Jones Industrial Average finished above the 40,000 level for the first time.– Asian stocks advanced Monday after U.S.
On Monday, China's central bank left the one- and five-year loan prime rate unchanged at 3.45% and 3.95%, in line with expectations. The one-year LPR serves as the benchmark for most new and outstanding loans in China, while the five-year rate affects the pricing of property mortgages. The federal funds rate is sitting at its highest level in more than two decades, and a cut would goose investment prices and remove some of the downward pressure on the economy.
While data reports recently have been better than forecast, “better than expected doesn’t mean good,” economists at Bank of America wrote in a BofA Global Research report.
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Stock market today: Asian stocks advance after Wall Street closes out another winning weekAsian stocks have advanced after U.S. stock indexes drifted near their records on Friday with the Dow Jones Industrial Average finishing above 40,000 for the first time.
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Stock market today: Asian markets follow Wall Street higher ahead of key inflation updateAsian stocks have advanced after a rally on Wall Street took the Nasdaq composite to a record high.
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Stock market today: Asian markets follow Wall Street higher ahead of key inflation updateAsian stocks have advanced after a rally on Wall Street took the Nasdaq composite to a record high. U.S. futures and oil prices also gained. Markets in Hong Kong and Seoul were closed for holidays. Investors were reviewing a mixed report on inflation and awaiting an even more important update on consumer prices later Wednesday.
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Stock market today: Asian markets follow Wall Street higher ahead of key inflation updateAsian stocks have advanced after a rally on Wall Street took the Nasdaq composite to a record high.
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Stock market today: Asian shares mixed in muted trading after Wall Street barely budgesAsian shares are mixed in muted trading after U.S. stock indexes were little changed. Investors are waiting for updates on inflation. Chinese markets were flat ahead of an expected announcement by the Biden administration on raising tariffs on imports from China. On Monday, the S&P 500 edged less than 0.1% lower.
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Stock market today: Asian stocks drift after Wall Street closes another winning weekAsian stocks are mostly lower following the weekend release of weak China lending data.
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