Asian Stock Market: Trades mixed following PBoC rate cut, Chinese stimulus support eyed

At press time, China’s Shanghai is down 0.38% to 3,120, the Shenzhen Component Index declines 0.25% to 10,432, and Hong Kong’s Hang Sang dips 1.38% to 17,703. India’s NIFTY 50 is up 0.11%, South Korea’s Kospi rises 0.52%, and Japan’s Nikkei gains 0.72%.are the worst performers in the region on Monday. The People's Bank of China decided to cut the one-year Loan Prime Rate by 10 basis points to 3.45% from 3.55% and maintained the five-year LPR unchanged at 4.2% on Monday.

In New Zealand, the nation’s Trade balance recorded a deficit of $15,810B in July YoY compared with a deficit of $-16.11B in the previous month. Exports fell to $5.45bn in July from $6.18B in the previous month, while Imports expanded to $6.56B from $6.29B prior.Speaks at the Jackson Hole Symposium on Friday. The speech could provide clues about economic conditions and indications of whether the inflation is under control or additional interest rate increases are required to curb inflation.

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