SINGAPORE — Shares in Asia-Pacific rose in Monday morning trade, as investors reacted to the release of China’s latest benchmark lending rate. Oil prices also jumped around 3%.
Hong Kong’s Hang Seng index led gains regionally on Monday, climbed 1.18% in early trade. The city’s benchmark finished more than 4% higher last week following a volatile week which swung between big gains and losses.
Trading in the Hong Kong-listed shares of China Evergrande and its property services and new energy vehicle unit was halted on Monday, according to exchange notices. No immediate reason was given for the trading halts.
China’s one-year loan prime rate was kept unchanged at 3.7% on Monday, largely in line with expectations from a Reuters survey.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.43% higher.
Markets in Japan are closed on Monday for a holiday.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 98.303 — off levels above 98.5 seen recently.
The Japanese yen traded at 119.25 per dollar following its weakening last week from levels below 118.2 against the greenback. The Australian dollar changed hands at $0.7409, as compared with levels below $0.721 seen last week.