Major Asian indexes are on a uptick on Thursday as investors optimism grows after China slashed key borrowing costs.
Equities rose in Japan, China and Hong Kong. U.S. futures were steady after the S&P 500 swung between gains and losses before closing down 1%
The SET opened up by 0.34%, KOSPI, TOPIX, CSI 300 and HSI up by 0.13%, 0.45%, 0.32% and 1.73% respectively.
China has cut its benchmark lending rate for corporate and household loans for a second straight month on Thursday. Mortgage reference rates has been lowered for the first time in nearly two years.
The one-year loan prime rate (LPR) was lowered by 10 basis points to 3.70% from 3.80% and the five-year LPR was reduced by 5 basis points to 4.60% from 4.65%.
Treasury yields declined but remain higher for the week on concerns about elevated inflation and the prospect of Federal Reserve interest-rate hikes.
A dollar index edged down while crude oil fell and gold was around a two-month high.
