both logged record closing highs in the prior session. Traders are gearing up for a raft of corporate earnings this week, including numbers from electric carmaker Tesla and semiconductor group Texas Instruments also advanced on data showing an uptick in new sales of its flagship iPhone smartphone in key market China, while Nvidia will be one of the first big US tech companies to report, with results due after the close of trade on Wednesday.
The PBOC reduced its one-year LPR to 3.10% from 3.35%, while the five-year LPR -- a key factor in determining mortgage rates -- was lowered to 3.60% from 3.85%. The PBOC last cut rates in July. The past month has seen Beijing unveil a raft measures aimed at reigniting growth, although a perceived lack of details on their implementation, timing and scale has inspired tepid investor confidence.Oil prices edged higher Monday, stabilizing after the previous week’s sharp losses on worries about global demand growth, particularly in top crude importer China.
Meanwhile, tensions in the Middle East remain in focus, as Israel continues its campaigns against both Hamas and Hezbollah, while also potentially preparing to retaliate against Iran for an early-October strike.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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