SINGAPORE — Stocks in Asia-Pacific traded mixed Monday morning as investors watched moves in the Turkish lira following a sudden upheaval at the country’s central bank.
In Japan, the Nikkei 225 slipped 1.7% in morning trade while the Topix index dipped 0.95%. South Korea’s Kospi declined nearly 0.1%.
Meanwhile, shares in Australia were higher, with the S&P/ASX 200 up 0.25%.
MSCI’s broadest index of Asia-Pacific shares traded around the flatline.
Lira weakens sharply
China’s one-year Loan Prime Rate (LPR) and five-year LPR are set to be released at around 9:30 a.m. HK/SIN on Monday. Majority of traders and analysts in a snap Reuters poll expect both the rates to remain unchanged at 3.85% and 4.65%, respectively.
In corporate developments, Japanese chipmaker Renesas Electronics‘ shares fell more than 2% in Monday morning trade. The firm announced over the weekend that it will take at least a month to restart production at a facility that was damaged by fire on Friday. That development came as the world already faces a global chip shortage.
Currencies
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.093 after its recent recovery from levels below 91.5.
The Japanese yen traded at 108.83 per dollar, stronger than levels above 109.2 against the greenback seen last week. The Australian dollar changed hands at $0.773, lower than levels below $0.78 seen last week.
Here’s a look at what’s on tap:
- China: One-year LPR and five-year LPR at 9:30 a.m. HK/SIN
Source: CNBC