This is CNBC’s live blog covering Asia-Pacific markets.
Asia-Pacific markets mostly rose Monday, after the People’s Bank of China stood pat on its 1-year and 5-year loan prime rates.
Investors also assessed the latest developments on the trade front, after the White House reiterated its position on tariffs.
U.S. Commerce Secretary Howard Lutnick on Sunday called Aug. 1 the “hard deadline” for countries to start paying tariffs, although he also added that “nothing stops countries from talking to us after August 1.”
Here are today’s highlights:
Asia-Pacific markets close mostly higher
Asia-Pacific markets mostly ended Thursday higher.
Hong Kong’s Hang Seng Index rose 0.68% to close at 24,994.14, while mainland China’s CSI 300 index increased by 0.67% to 4,085.61.
Meanwhile, South Korea’s Kospi index advanced 0.71% to close at 3,210.81, while the small-cap Kosdaq moved up 0.12% to 821.69
Australia’s S&P/ASX 200 benchmark fell 1.02% to end the day at 8,668.20.
Over in India, the 50-stock benchmark Nifty 50 was up 0.29%, while the BSE Sensex index added 0.37% as of 1.45 p.m. Indian Standard Time (4.15 a.m. ET).
— Amala Balakrishner
Chinese infrastructure stocks surge on hydropower project in Tibet
Shares of Chinese infrastructure, cement and engineering services counters surged Monday, following reports that Chinese premier Li Qiang announced the commencement of construction of the hydropower project on the lower reaches of Tibet’s Yarlung Tsangpo river over the weekend.
Li reportedly also unveiled the China Yajiang Group, a new company that will manage the dam’s development, state media Xinhua News Agency reported.
Gains were led by China Resources Building Materials Cement and Anhui Conch Cement which surged 13.30% and 8.76% respectively as of 2.46 p.m. local time (2.46 a.m. ET).
Gains were also seen in China National Building Material which increased by 9.40% and West China Cement which advanced 6.82%.
— Amala Balakrishner
CNBC Pro: Bitcoin is expected to rally further. Here’s how the pros are investing
Bitcoin extended its gains Monday, after coming off an eventful week.
As of 12.16 p.m. Singapore time (12.15 a.m. ET), the cryptocurrency had gained 0.21% against the greenback to $118,368.56.
Market watchers CNBC Pro spoke to remained bullish on bitcoin and saw potential for the cryptocurrency to climb even further in the rest of the year.
CNBC Pro subscribers can read the full story here.
— Amala Balakrishner
SEBI allows Jane Street to resume trading, Reuters reports
The Securities and Exchange Board of India has reportedly allowed Jane Street to restart trading in India, after the U.S. trading firm deposited $567 million, Reuters reported citing two sources familiar with the matter.
The Indian regulator temporarily barred Jane Street Group from accessing India’s securities market on July 3 after accusing it of widespread market manipulation.
SEBI also issued an interim order to freeze over 48.4 billion Indian rupees ($566.3 million) from Jane Street in alleged illegal gains.
— Amala Balakrishner
India’s Nifty 50 benchmark starts the day lower
India’s 50-stock benchmark Nifty 50 Sensex index fell 0.26% as at 9.30 a.m. Indian Standard time Monday (12. a.m. ET).
Meanwhile, the BSE Sensex index was last seen flat.
— Amala Balakrishner
Singapore stocks extend rally to hit fresh record for 11th straight session
Singapore’s 30-stock benchmark Straits Times Index extended its winning run for the eleventh consecutive session Monday, and hit a fresh all-time high of 4,225.79 earlier in the session.
The index was up 0.62% at 4,215.22 as of 10.10 a.m. local time (10.10 p.m. ET Monday), with gains led by the utilities, financials and real estate sectors.
The best performing stocks were Mapletree Logistics Trust which rose 1.69%, Yangzijiang Shipbuilding which advanced 1.67% and Keppel which added 1.36%.
— Amala Balakrishner
Chinese yuan trades flat against greenback after PBOC decision
The Chinese yuan and offshore yuan traded flat against the greenback on Monday, after the People’s Bank of China stood pat on its key holding rates for July.
As at 9.50 a.m. local time (9.50 p.m. ET Sunday), the offshore yuan had strengthened by 0.02% against the U.S. dollar to 7.1788.
— Amala Balakrishner
Chinese and Hong Kong stocks rise in early trade
Chinese and Hong Kong-listed stocks started the day higher Monday, after China’s central bank stood pat on its key lending rates
As of 9:42 a.m. local time (9:42 p.m. ET Tuesday), the Hang Seng Index added 0.55%, while mainland’s CSI 300 moved up 0.28%.
— Amala Balakrishner
Japanese yen strengthens after ruling party’s defeat
The Japanese yen strengthened against the greenback Monday, as investors assessed the ruling party’s historic defeat in the upper-house election on July 20.
The yen — which is traditionally considered a safe haven, especially during times of uncertainty — had been on the decline for two weeks leading up to the election after polls suggested that the country’s ruling party would lose its parliamentary majority.
As of 11 a.m. local time (10 p.m. ET Sunday), the yen had appreciated by 0.22% against the U.S. dollar to 148.49.
— Amala Balakrishner
China holds key lending rates as softening consumer sentiment persists in world’s second largest economy
China kept its benchmark lending rates steady Monday as the country continues to grapple with weak consumer sentiment and softening growth.
The People’s Bank of China held the 1-year loan prime rate at 3.0% and the 5-year LPR at 3.5%.
LPR, normally charged to banks’ best clients, is calculated based on a survey of dozens of designated commercial banks that submit proposed rates to the central bank.
Read the full story, here.
— Lim Hui Jie
Asia-Pacific markets open mixed
South Korean markets started the day higher Monday.
As of 8.10 a.m. Singapore time (8.10 p.m. ET Sunday), the Kospi index rose 0.45%, while the small-cap Kosdaq was flat.
Meanwhile, Australia’s S&P/ASX 200 benchmark was flat.
Japanese markets were closed for the Marine Day public holiday.
— Amala Balakrishner
Here are the opening calls for the day
Good morning from Singapore.
Investors will be keeping a close watch on the People’s Bank of China’s decision on its 1-year and 5-year loan prime rates for July expected later in the day.
Futures for Hong Kong’s Hang Seng index stood at 24,883, pointing to a stronger open compared with the HSI’s Friday close of 24,825.66.
Australia’s S&P/ASX 200 was set to start the day lower with futures tied to the benchmark at 8,688, compared with its last close of 8,757.20.
Japanese markets were closed for a public holiday.
— Amala Balakrishner
U.S. futures little changed in early Asia hours
U.S. equity futures fell in early Asia hours as investors tracked the latest developments in trade and awaited big tech earnings this week.
S&P 500 futures moved up 0.06%, while Nasdaq 100 futures ticked up 0.08%. Futures for the Dow Jones Industrial Average added 24 points or 0.05%.
— Amala Balakrishner
S&P 500, Dow end Friday in the red
The S&P 500 and Dow Jones Industrial Average ended Friday in the red, with stocks turning lower in afternoon trading as tariff fears took over.
The 30-stock Dow lost 142.30 points, or 0.32%, ending at 44,342.19. The S&P 500 inched 0.01% lower to close the session at 6,296.79.The tech-heavy Nasdaq Composite added just 0.05% to settle at 20,895.66.
— Pia Singh
