Asia-Pacific markets trade mixed as China keeps benchmark lending rates steady – NBC4 Washington

This is CNBC’s live blog covering Asia-Pacific markets.

Asia-Pacific markets traded mixed Monday as China’s central bank held rates at a time when the yuan has come under pressure due to Beijing-Washington trade tensions.

Mainland China’s CSI 300 rose 0.18% after the People’s Bank of China kept its key loan prime rates unchanged at 3.10% for 1-year loan maturities and 3.60% for 5-year loan maturities, in line with the expectations of economists polled by Reuters.

Japan’s benchmark Nikkei 225 fell 1.24%, while the broader Topix index declined 1.18%.

In South Korea, the Kospi index was flat while the small-cap Kosdaq moved down 0.27% in choppy trade.

Australian and Hong Kong markets were closed for the Easter holiday.

Investors are focused on U.S. President Donald Trump’s trade policies, as they continue to roil global markets.

Last week, Trump called for the U.S. Federal Reserve to cut interest rates while adding that the termination of Fed Chair Jerome Powell “cannot come fast enough.” Trump’s comments came after Powell cautioned that ongoing trade tensions could challenge the central bank’s goals of controlling inflation and spurring growth.

U.S. futures fell after all three major benchmarks logged their third weekly decline, in the last four trading weeks.

The broad-based S&P 500 ended Thursday’s session higher, but still finished the holiday-shortened week 1.5% lower.

Meanwhile, the Dow Jones Industrial Average and Nasdaq Composite posted their third consecutive losing session, each declining over 2% in the four-day trading week.

— CNBC’s Sean Conlon contributed to this report.

Singapore’s benchmark STI rises over 1.3% to 2-week high

Singapore’s benchmark Straits Times Index rose 1.25% to 3,720.33 as at 10.39 a.m. local time Thursday, hitting its highest level since April 4.

The top performing stocks on the index were Yangzijiang Shipbuilding, which gained 12.62%, Seatrium (formerly known as SembCorp Marine) which rose 2.72% and Jardine Matheson Holdings which increased 2.63%.

The moves in Singapore’s stocks come alongside strong gains in its currency.

The Singapore dollar appreciated 0.53% against the greenback to 1.3040, shortly after hitting its highest level since October 2024.

— Amala Balakrishner

Chinese yuan appreciates against dollar after PBOC holds loan prime rate

The Chinese yuan appreciated Monday, following the central bank’s decision to stand pat on interest rates.

As at 10.33 a.m. local time, the Chinese yuan had strengthened 0.13% against the U.S. dollar to 7.2897.

Meanwhile, the offshore Chinese yuan had strengthened 0.14% against the greenback to 7.2915.

— Amala Balakrishner

Asian chip-related stocks trade mixed

Semiconductor-related stocks in Asia traded continued to trade mixed Monday following the tech sell-off in Wall Street last week.

Shares of Taiwanese chipmakers Taiwan Semiconductor Manufacturing Corp fell 1.41% while Hon Hai Precision Industry – which is known internationally as Foxconn – moved up 0.37%.

Over in South Korea, shares of SK Hynix and Samsung Electronics increased 1.71% and 0.27% respectively.

Meanwhile, shares of semiconductor-related companies in Japan fell, trailing losses of the Nikkei 225 benchmark and Topix index.

Semiconductor testing equipment supplier Advantest‘s lost 0.69%, while technology conglomerate SoftBank – which owns a stake in chip designer Arm – moved down 1%.

Meanwhile, shares of Renesas Electronics tumbled 2.59%.

— Amala Balakrishner

Shares of major Chinese banks pick up after PBOC holds key loan prime rate

Shares of China’s major banks picked up Monday, after the country’s central bank stood pat on its key loan prime rates earlier in the day.

Bank of China led gains in the sector, increasing 1.94% as at 10.11 a.m. local time.

Shares of the Industrial and Commercial Bank of China and China Construction Bank were last seen up 1.12% and 0.98% respectively.

Meanwhile, China Merchants Bank was trading 0.61% higher.

— Amala Balakrishner

Japanese stocks fall over 1%

Japanese stocks fell over 1% Monday, reversing course from two-straight sessions of gains.

The benchmark Nikkei 225 was down 1.04% as at 10.52 a.m. local time. The index is down 12.94% since the start of the year.

The worst-performing stocks in the index were Sumitomo Pharma which plunged 9.18%, Suzuki Motor which dropped 3.89% and Mazda Motor which was down 3.62%, according to LSEG data.

Meanwhile, the Topix index was down 1.05%. The broad based index has dropped 8.96% since the start of the year.

— Amala Balakrishner

China keeps key lending rates steady in bid to shore up yuan as Trump tariffs pressure currency

China expectedly kept its loan prime rates unchanged Monday, with the 1-year LPR at 3.1% and the 5-year at 3.6% as the central bank appears focused on stabilizing the yuan amid trade tensions with the U.S.

The decision from the People’s Bank of China comes as China reported better-than-expected economic data this month, with first-quarter GDP growing at 5.4% year on year.

The 1-year LPR influences corporate and most household loans in China, while the 5-year LPR serves as a benchmark for mortgage rates. The PBOC has kept the LPRs steady since October last year.

Read the full story, here.

— Lim Hui Jie

Japanese and South Korean auto stocks fall in early trade

Japanese and South Korean auto stocks fell in early trade Monday, reversing course from gains in the previous week after U.S. President Donald Trump’s comments on “help[ing] some of the car companies.”

Suzuki Motor led losses in Japanese automakers, plunging 4.19% as at 8.59 a.m. Singapore time.

Other stocks that logged steep increases include Mazda Motor which retreated 3.03%, Toyota Motor which fell 2.30% and Nissan Motor which dropped 1.99%.

Over in South Korea, Kia Corp moved up 0.34% while Hyundai Motor lost 0.11%.

— Amala Balakrishner

Spot gold rises above $3,300 as investors scoop up bullion in market rally

Spot gold continued to rise past the $3,300 threshold Monday as investors sought relief in the safe-haven bullion amid Beijing-Washington trade tensions.

The precious metal hit a record high of $3,368.92 per ounce as at 8.44 a.m. Singapore time.

— Amala Balakrishner

Japanese yen strengthens to 7-month high against the greenback

The Japanese yen appreciated 0.70% against the U.S. dollar to hit a seven-month high of 141.16 as of 9:00 a.m. Singapore time on Monday.

Elsewhere in Asia-Pacific, the Korean won strengthened 0.31% to 1,421.20 against the U.S. dollar.

Meanwhile, the Australian dollar appreciated by 0.36% against the U.S. dollar to 0.6398, while the offshore Chinese yuan strengthened marginally by 0.1% against the greenback to 7.2953.

Southeast Asian currencies also strengthened against the greenback. The Singapore dollar was last seen 0.4% stronger than the U.S. dollar at 1.305, while the Malaysian ringgit had appreciated 0.45% against the dollar to 4.39.

— Amala Balakrishner