Asia Pacific Continues to Slide after China Maintains Loan Rates

All Asia Pacific markets continued to slip on Wednesday morning (20 Sep) after the release of some notable numbers as China stood its prime loan rate at 4.2% for 5-years and 3.45% on 1-year, while Japan trade balance in August showed more negative from 66 billion yen to 930 billion yen. And lastly, the South Korean Producer Price Index (PPI) went up to 1% YoY from 0.3%.


Australian ASX 200 led the trend today by losing 0.5% down to 7,160, followed by Hong Kong’s HSI, losing by 0.5% to 17,920. Shanghai’s SSEC and Japan’s NIKKEI both lost around 0.4% each, dropping both indices under 3,120 and 33,120, respectively. Other major indices were all in the negative zone with lesser losses.


Meanwhile, the US Futures continued to edge down as well, S&P already went under 4,500 and NASDAQ also climbed down to 15,400 level. Energy commodities have been cooling down a little bit as WTI crude oil went under $90 and Brent also under $94 per barrel.


The precious metal, gold, still stabilized around $1,950 per Troy ounce, while the US Dollar Index (DXY) was trading around 104.8 as many investors and speculators were waiting for UK CPI and US FED rate decisions later today.