Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Asian Markets Rise; China Unexpectedly Keeps LPR Unchanged

Stock MarketsMar 19, 2020 11:05PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters.

By Alex Ho - Asian markets ended the week with a much needed reprieve from days of heavy losses. 


China fixed its 1-year Loan Prime Rate (LPR) on Friday morning at 4.05%, the same as a month earlier. China also set the 5-year LPR at 4.75%, also unchanged from a month earlier.  


The hold defied investors’ expectations for a cut which would have been in line with moves by central banks around the world. Central banks have been cutting rates and offering stimulus packages to stave off a recession caused by the COVID-19 pandemic.  


China’s Shanghai Composite gained 1.15% by 9:57 PM ET (1:57 AM GMT) while the Shenzhen Component was up by 1.13%. Hong Kong’s Hang Seng Index was up by 3.38%, reversing losses shortly after markets opened.  


In Australia, Treasurer Josh Frydenberg hinted during an interview with Sky News Friday morning at a second stimulus package that will be “significantly bigger” than last week’s A$17.6 billion ($10.7 billion) package. On Thursday, the Federal Reserve Bank of Australia cut interest rates to 0.25%. 


The ASX 200 rebounded from losses a day earlier and was up 3.25%. 


Elsewhere, South Korea’s KOSPI was up 3.16%.  


Japan’s Nikkei 225 is closed for a national holiday. 


Despite the gains today, investors remain wary that the worst from the COVID-19 novel coronavirus is far from over. Bridgewater founder Ray Dalio warned in an interview with CNBC: “What’s happening has not happened in our lifetime before ... what we have is a crisis.”  


He estimated the price tag for U.S. corporations could be up to $4 trillion. 


“There will also be individuals who have very big losses. ... There’s a need for the government to spend more money, a lot more money,” Dalio said. 

Asian Markets Rise; China Unexpectedly Keeps LPR Unchanged

Related Articles

Cognac sales jump 31% as drinkers go upmarket
Cognac sales jump 31% as drinkers go upmarket By Reuters - Jan 17, 2022 2

PARIS (Reuters) - Cognac sales surged by a nearly a third last year as American and Chinese drinkers guzzled old vintages, in the latest sign premium drinks makers are putting the...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
David David
David9 Mar 20, 2020 12:34AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Looks like people underestimated how resilience the chinese market is. China has master the long approach thinking and will keep their economy going strong despite some set backs from the virus. Business is about to be back to normal as 90% of Starbucks or open. iPhone is still on track for phones.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email