Asia-Pacific stocks set to dip as investors look ahead to China's benchmark lending rate release

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China is set to its latest one-year loan prime rate (LPR) as well as the five-year LPR at around 9:30 a.m. HK/SIN on Tuesday.

China is set to its latest one-year loan prime rate as well as the five-year LPR at 9:30 a.m. HK/SIN.

A majority of traders and analysts in a Reuters poll predict no change to either the one-year or five-year LPR.In this articleSINGAPORE — Shares in Asia-Pacific looked set to dip at the Tuesday open as investors await the release of China's latest benchmark lending rate. Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 29,400 while its counterpart in Osaka sat at 29,310. That compared against theAustralian stocks also looked poised to slip, with the SPI futures contract at 7,018 as compared to theOn the economic data front, China is set to its latest one-year loan prime rate as well as the five-year LPR at 9:30 a.m. HK/SIN.

Overnight on Wall Street, stocks declined from record levels as the Dow Jones Industrial Average dropped 123.04 points to close at 34,077.63. The S&P 500 dipped 0.53% to finish the trading day stateside at 4,163.26 while the Nasdaq Composite dropped 0.98% to close at about 13,914.77.

 

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