Shares in the Asia-Pacific traded lower on Monday as China’s central bank kept its benchmark lending rates, or loan prime rates, on hold — in line with expectations.
The Hang Seng index in Hong Kong fell 2.62%, leading losses in the wider region. In mainland China, the Shanghai Composite fell 1.03% and the Shenzhen Component also fell 0.94%.
The Nikkei 225 in Japan lost 0.1% and the Topix was just above the flat line. In Australia, the S&P/ASX 200 was 0.2% lower. South Korea’s Kospi dropped 1.28%. The MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.4%.
Over the weekend, Malaysia’s election produced a hung parliament, and parties are trying to win support from other blocs to form the government. Later this week, Baidu will report earnings and Singapore will release inflation data.
