SINGAPORE — Shares in Asia-Pacific dropped in Monday morning trade, with China set to announce its latest benchmark lending rate later in the day.
Meanwhile, shares in Australia slipped, with the S&P/ASX 200 shedding 1.64%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.32% lower.
Looking ahead, China’s latest one-year Loan Prime Rate (LPR) is expected to be out at 9:30 a.m. HK/SIN on Monday. Majority of analysts in a snap Reuters poll predicted no change to the one-year Loan Prime Rate as well as the five-year LPR.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.223 after a recent climb from levels below 91.2.
The Japanese yen traded at 110.16 per dollar, stronger than levels above 110.5 against the greenback seen last week. The Australian dollar changed hands at $0.7507, still struggling to recover after its fall last week from above $0.768.
Here’s a look at what’s on tap:
- Australia: Preliminary retail sales data for May at 9:30 a.m. HK/SIN
- China: Latest one-year Loan Prime Rate and five-year LPR at 9:30 a.m. HK/SIN