Stock market today: Asian shares shrug off Wall St blues as China leaves lending rate unchanged

Markets in Asia apart from Shanghai's were broadly higher Monday, shrugging off the blues on Wall Street after big technology stocks logged their worst week since the COVID crash in 2020.Hong Kong's Hang Seng led the region, gaining 1.6% to 16489.08. But the Shanghai Composite index shed 0.5% to 3,050.89 after the People's Bank of China kept its 1-year and 5-year loan prime rates unchanged.

That’s its longest such streak since September, before it broke into a romp that sent it to a string of records this year. Nvidia, another stock that has surged to dizzying heights due to Wall Street’s frenzy around artificial-intelligence technology, also gave up some of its big recent gains. It slumped 10% and was the heaviest single weight on the S&P 500, by far, because of its huge size.

Fed officials are adamant that they want to see additional proof inflation is heading down toward their 2% target before lowering the Fed’s main interest rate, which is at its highest level since 2001. A barrel of Brent crude gave up 72 cents to $86.57 per barrel. On Friday, it pulled back to $87.29 after briefly leaping above $90 overnight on worries aboutIf You’d Invested $5,000 in Brookfield Renewable Partners Stock in 2023, This Is How Much You Would Have TodayTelus stock is down 37% in two years and is trading near its pandemic low, making investors wonder how low it can go.

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