Asian Stocks Down, China Cuts Loan Prime Rate For First Time in Almost 2 Years By Investing.com

Asian Stocks Down, China Cuts Loan Prime Rate For First Time in Almost 2 Years By Investing.com
Asian Stocks Down, China Cuts Loan Prime Rate For First Time in Almost 2 Years By Investing.com© Reuters.

By Gina Lee

Investing.com – Asia Pacific stocks were down on Monday morning as China for the first time in almost two years. Investors remain concerned about the spread of omicron variants and the U.S. tightening monetary policy.

Japan’s fell 1.86% by 9:52 PM ET (2:52 AM GMT) ahead of a speech by the Bank of Japan Governor Haruhiko Kuroda on Thursday.

South Korea’s fell 1.33%.

In Australia, the was down 0.31%. The Reserve Bank of Australia is due to release meeting on Tuesday.

Hong Kong’s was down 1.07%.

China’s was down 0.70% while the down 0.76%. China cut its one-year from 3.85% to 3.8%, the first such move since April 2020.

In the U.S., investors expect a diminishing central bank stimulus as officials step up efforts to contain inflation….

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